UC-NRLF 


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Ik  the  Matter 


OP  THE 


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Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  Certifi- 
cate dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Muni- 
cipal Railway  Corporation  of  the  ac- 
tual cost  of  Plant  and  Structure  and 
actual  cost  of  Equipment  of  the 
Broadway,  Fulton  Street  and  Myrtle 
Avenue  Additional  Tracks,  paid  or 
accrued  prior  to  March  19,  1913. 


Prior  Determination 

^'Additional  Tracks'' 

October  14,  1913. 


r^ 


\  . 


N.  Y.  M.—E.  D.  Vrlor  C— 1,500-0.  '13  (N) 


•  _•• •  • 


To  the 

Public  Service  Commission  for  the  First  District  ajid 
New.   York    Municipal   Railway    Corporation: 

Pursuant  to  the  provisions  of  Contract  4  and  the 
certificates  related  thereto,  under  this  date  I  am  ren- 
dering in  detail  my  determinations  of  the  costs  paid  or 
accrued  prior  to  March  19,  1913,  separately  with 
respect  to  Contract  4  and  each  certificate. 

These  determinations,  summarized,  are  for 

Contract  4 — Railroad: 
Cost  of  Construction    ------   $34,185,324.24 

Cost  of  Equipment  -------  784,488.82 

Total  Cost  of  the  Railroad    -     -     -     -   $34,969,813.06 

Contract  4 — Reconstruction  of  Existing  Railroads: 
Cost  of  Construction    ------         $392,244.39 

Cost  of  Equipment  -     ------  130,748.13 

Total  Cost  of  Reconstruction  of  Exist- 
ing Railroads    - $522,992.52 

Total  Cost  of  Contract  4 $35492,805.58 

Certificate  for  Additional  Tracks: 
Actual  Cost  of  Plant  and  Structure     -         $261,676.11 
Actual  Cost  of  Equipment     -     -     -     -  

Actual  Cost  of  Plant  and  Property      -         $261,676.11' 

Certificate  for  Elevated  Extensions: 
Actual  Cost  of  Plant  and  Structure     -         $196,257.08 
Actual  Cost  of  Equipment     -     -     -     -  196,257.09 

Actual  Cost  of  Plant  and  Property      -         $392,514.17 
Total  for  Municipal  Railway  Corpora- 
tion, Contract  4  and  Certificates  -   $36,146,995.86 

ALFRED    CRAFEN, 

Chief  Engineer 

Public  Service  Commission  for  the  First  District, 


ivi^59'7?6 


He  Hi/ 


In  the  Matter 


OP  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  Certifi- 
cate dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Muni- 
cipal Railway  Corporation  of  the  ac- 
tual cost  of  Plant  and  Structure  and 
actual  cost  of  Equipment  of  the 
Broadway,  Fulton  Street  and  Myrtle 
Avenue  Additional  Tracks,  paid  or 
accrued  prior  to  March  19,  1913. 


Prior  Determination 

"Additional  TrxVcks" 

October  14,  1913. 


To  the 

Public  Service  Commission  for  the   First  District  and 
New   York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  the 

CERTIFICATE  dated  March  19,  1913,  from  the  Public  Ser- 
vice Commission  for  the  First  District  to  the  New  York  Munici- 
pal Railway  Corporation,  authorizing  it: 

'To  lay  additional  tracks  on,  above  or  contiguous  to,  portions 
of  the  route  or  routes  of  its  railroads  within  New  York, ' '  etc. ; 

And  in  accordance  with  the  terms  of  Article  IX  thereof,  I 
hereby  render  my  determination  of  the  actual  cost  of  the  Plant 
and  Structure  and  of  the  actual  cost  of  Equipment  of  the  sev- 
eral Railroads  paid  or  accrued  prior  to  March  19,  1913. 

For  the  Broadway,  Fulton  Street  and  Myrtle  Avenue  Addi- 
tional Tracks, 

The  actual  cost  of  Plant  and  Structure  (Article  IX  of  the 
above  mentioned  Certificate)  is  as  follows: 

(1)  Labor  and  materials 

(2)  Real  estate $179.85 

(3)  Debt  discount  and  expense 3,138.01 

(4)  Taxes    100.00 

(5)  Superintendence,  etc 18,428.42  . 

(6)  Interest    239,829.83 

Total $261,676.11 

The  actual  cost  of  Equipment  is  as  follows : 

(1)  Labor  and  materials 

(2)  Real  estate 

(3)  Debt  discount  and  expense 

(4)  Taxes 

(5)  Superintendence,  etc 

(6)  Interest 

Total 

Actual  Cost  of  Plant  and  Property $261,676.11 

3 


Each  of  these  parts  of  the  actual  cost  of  plant  and  structure 
and  of  the  actual  cost  of  equipment  of  the  additional  tracks  is 
taken  up  hereafter  in  its  order.  They  are  shown  as  applied 
to  the  several  lines  of  the  Railroads  and  represent  actual  expen- 
ditures chargeable  to  the  respective  lines.  It  is  necessary  to  keep 
the  cost  separate  as  to  lines  in  order  to  provide  a  basis  for  com- 
puting deductions  from  revenue  in  the  case  of  temporary  opera- 
tion (Article  XLIX,  Subdivision  7,  of  Contract  No.  4,  embodied 
in  Article  X  of  the  Certificate). 

The  records  of  costs,  from  which  this  determination  is  made, 
are  kept  in  such  detail  that  the  cost  of  any  principal  part  of  the 
Railroads  may  be  identified  so  that  in  case  of  its  retirement  or 
withdrawal  from  service,  the  said  cost  may  be  withdrawn  from 
the  appropriate  depreciation  fund  as  provided  under  Article 
XLIX,  Subdivision  5,  of  Contract  No.  4,  embodied  in  Article  X 
of  the  Certificate.  A  summary  of  these  records  will  be  given  in 
appendices  as  they  appear.  The  Uniform  S.ystem  of  Accounts 
as  prescribed  by  the  Public  Service  Commission  is  followed  for 
this  purpose. 

When  there  are  expenditures  of  an  executive  and  administra- 
tive nature  it  is  impossible  to  allocate  them  to  specific  construction. 
Such  expenditures  made  by  the  New  York  Municipal  Railway 
Corporation  I  have  distributed  among  the  several  lines  affected 
in  each  particular  case  on  the  basis  of  relative  estimated  costs. 
The  percentages  used  are  given  in  a  tabulation  which  represents 
the  understanding  with  respect  thereto  between  representatives 
of  New  York  Municipal  Railway  Corporation  and  myself.  This 
understanding  covers  all  of  the  work  provided  to  be  done  by  the 
New  York  Municipal  Railway  Corporation  under  Contract  No.  4 
and  the  related  certificates,  including  their  contribution  to  the 
City's  Railroad,  and  its  terms  are  stated  in  my  determination 
of  Cost  of  Construction  and  Cost  of  Equipment  made  under 
Contract  No.  4.  It  is  subject  to  modification  by  me  at  any  time 
that  the  facts  indicate  that  it  should  be  modified.  The  applica- 
tion of  this  percentage  distribution  accounts  for  all  of  the  items 
herein  reported. 


ACTUAL  COST  OF  PLANT  AND  STRUCTURE 


Real  estate.  "(2)   The   actual    and   necessary   net       -^    _ 

cost  in  money  to  the  Subway  Company  of 
any  real  estate  or  interest  therein,  including  consents  and 
easements  (other  than  replacements  or  substitutions),  nec- 
essarily acquired  for  the  construction  or  operation  of  the 
plant  and  structure,  or  such  additions  thereto,  or  for  con- 
struction or  operation  of  such  improvements  or  better- 
ments of  existing  structures,  together  with  the  actual  and 
necessary  expenses  in  connection  with  such  acquisition." 

The  cost  of 

(2)  Real  estate  for  such  specified  lines  of  the  Railroads  is  as 
follows : 


(1)   Broadway  Line  

(II)   Fulton  Street  Line: 

(a)  Third  and  Fourth  additional 
tracks  along  the  line  of  ex- 
isting Fulton  Street  Line .  . . 

(b)  Additional  connection  tracks 
at  East  New  York  from  Ful- 
ton Street  to  Pitkin  Avenue. 

(Ill)  Myrtle  Avenue  Line 


$71.94 


71.94 


26.98 
8.99 


Total  cost  for  Real  Estate  pursu- 
ant to  the  Certificate  prior 
to  March  19,  1913 


$179.85 


Debt  discount  ''(3)   The  debt  discount  and  expense 

and  expense.  actually  and  necessarily  incurred  in  con- 
nection with  the  construction  of  the  plant 
and  structure  and  additions  thereto  from  time  to  time, 
provided,  however,  that  the  debt  discount  and  expense, 
except  in  the  case  of  additions,  shall  not  exceed  an  amount 
equal  to  three  per  centum  (3%)  of  the  actual  cost  of  the 
plant  and  structure,  including  in  such  cost  the  expendi- 
tures under  this  paragraph." 


The  cost  of 

(3)  Debt  discount  and  expense  for  such  specified  lines  of  the 
Railroads  is  as  follows : 

(I)   Broadway  Line   $1,255.20 

(II)   Fulton  Street  Line: 

(a)  Third  and  Fourth  additional 
tracks  along  the  line  of  ex- 
isting Fulton  Street  Line.  .  .        L255.21 

(b)  Additional  connection  tracks 
at  East  New  York  from  Ful- 
ton Street  to  Pitkin  Avenue.  470.70 

(III)   Myrtle  Avenue  Line 156.90 


Total  cost  for  Debt  discount  and 
expense,  pursuant  to  the  Cer- 
tificate prior  to  Mar.  19,  1913     $3,138.01 


Taxes.  "W   Taxes  and  assessments  actually  and 

necessarily  paid  or  accrued  upon  the  items  of 
this  definition,  pending  the  beginning  of  operation,  in- 
cluding in  the  word  'taxes,'  assessments  or  other  gov- 
ernmental charges  (including  mortgage  recording  tax)  of 
every  description  against  the  Subway  Company  in  and 
about  the  construction  of  the  plant  and  structure  and 
additions  thereto  from  time  to  time.  During  operation, 
such  assessments  for  benefits  as  are  not  properly  charge- 
able against  revenue  shall  be  charged  to  actual  cost. ' ' 

The  cost  of 

(4)   Taxes,   for  such  specified   lines  of  the   Railroads  is   as 
follows : 

(I)   Broadway  Line   $40.00 

(II)   Fulton  Street  Line: 

(a)  Third  and  Fourth  additional 
tracks  along  the  line  of  ex- 
isting Fulton  Street  Line . .  .  40.00 

(b)  Additional  connection  tracks 
at  East  New  York  from  Ful- 
ton Street  to  Pitkin  Avenue.  15.00 

(III)   Myrtle  Avenue  Line 5.00 


Total   cost   for   Taxes,   pursuant 
to    the    Certificate    prior    to 

March  19,  1913 $100.00 

6 


Superintend-  "(5)   The   actual   and   necessary  net 

ence,  etc.  cost  in  money  to  the  Subway  Company 

for  superintendence,  insurance,  damages, 
engineering,   legal   expenses   and   administration,   includ-  — 

ing  in  respect  of  the  plant  and  structure  (exclusive  of 
additions)  the  expenses  above  referred  to  in  this  para- 
graph actually  and  necessarily  incurred  or  payable  by 
the  Subway  Company  prior  to  the  date  of  this  certificate, 
and  in  addition  the  actual  and  necessary  expense  incurred 
or  payable  by  the  Subway  Company  in  printing,  engrav- 
ing and  certifying  securities  for  the  plant  and  structure 
(exclusive  of  additions)  and  the  actual  and  necessary 
expense  in  organizing  the  Subway  Company." 

The  cost  of 

(5)   Superintendence,   etc.,    for   such   specified  lines   of  the 
Railroad  is  as  follows : 

(I)   Broadway  Line  $7,371.37 

(II)  Fulton  Street  Line: 

(a)  Third  and  Fourth  additional 
tracks  along  the  line  of  ex- 
isting Fulton  Street  Line. . .       7,371.36 

(b)  Additional  connection  tracks 
at  East  New  York  from  Ful- 
ton Street  to  Pitkin  Avenue.       2,764.27 

(III)  Myrtle  Avenue  Line 921.42 


Total  cost  for  Superintendence, 
etc.,  pursuant  to  the  Certifi- 
cate prior  to  March  19,  1913.  .   $18,428.42 


Interest.  ''  (6)   Interest  actually  and  necessarily  paid 

or  accrued  on  moneys  provided  by  the  Subway 
Company  or  on  its  behalf  from  time  to  time  for  the  items 
of  this  definition  from  the  respective  times  of  providing 
said  moneys  (but  not  including  interest  on  any  moneys 
provided  by  the  Subway  Company  or  on  its  behalf  prior  to 
October  1.  1912)  to  the  beginning  of  operation  of  the  part 
of  the  plant  and  structure  for  which  such  moneys  were  pro- 
vided, less  any  interest  received  by  the  Subway  Company 
or  on  behalf  of  the  Subway  Company  on  such  moneys. ' ' 


The  cost  of 

(6)   Interest,  for  such  specified  lines  of  the  Railroads  is  as 
f  olllows : 

(I)  Broadway  Line  $95,931.93 

(II)   Fulton  Street  Line: 

(a)  Third  and  Fourth  additional 
tracks  along  the  line  of  ex- 
isting Fulton  Street  Line. . .     95,931.93 

(b)  Additional  connection  tracks 
at  East  New  York  from  Ful- 
ton Street  to  Pitkin  Avenue.     35,974.48 

(III)   Myrtle  Avenue  Line 11,991.49 


Total  cost  for  Interest  pursuant 
to  the  Certificate  prior  to 
March  19,   1913 $239,829.83 


APPENDIX    EXPLANATORY    OF    THE    ABOVE 
DETERMINATION 

Debt  discount  and  expense.         In  the  determination  of  Cost  of 

Construction  and  Cost  of  Equip- 
Lessee's  expense  for  ment  of  the  Railroad   for  Initial 

superintendence.  Operation  made  under  this  same 

date,  the  character  and  division  of 
Taxes.       •  expenditures  by  the  Lessee  prior  to 

March  19, 1913,  are  fully  explained, 
Interest.  and   reference  is   hereby   made  to 

them  to  identify  the  entries  herein. 


UNIFORM    SYSTEM    OF   ACCOUNTS 

The  details  of  the  Cost  hereinbefore  set  forth  should  be  classi- 
fied in  accordance  with  the  uniform  system  of  accounts  pre- 
scribed for  street  and  electric  railways  by  the  Public  Service 
Commission  in  its  order  of  December  8,  1908,  as  follows: 

8 


For  Additional  Tracks. 

The  actual  cost  of  Plant  and  Structure  is  as  f ollo^YS : 

Intangible  Street  Railway  Capital:  — 

Organization    $159.38 

Other  Intangible  Street  Railway  Capital 11,751.14 

Land: 

Right  of  Way 179.85 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 6,617.90 

Interest  during  construction 239,829.83 

Suspense : 

Unamortized  debt  discount  and  expense 3,138.01 

Total  cost  for  Plant  and  Structure $261,676.11 

The  actual  cost  of  Equipment  is  as  follows : 
Note. — There  have  been  no  expenditures  on  this  account. 
Total  actual. cost  of  Plant  and  Property  prior 

to  March  19,  1913 $261,676.11 

These  costs  under  the  Uniform  System  of  Accounts  are  for 
each  line  of  the  Railroads  as  follows: 

BROADWAY   LINE 

Cost  of  Plant  and  Structure: 
Intangible  Street  Railway  Capital: 

Organization    $63.75 

Other  Intangible  Street  Railway  Capital 4,700.46 

Land: 

Right  of  Way 71.94 

Undistributed  Construction  Expenditures : 

Engineering  and  Superintendence 2,647.16 

Interest  during  construction 95,931.93 

Suspe7ise : 

Unamortized  debt  discount  and  expense 1,255.20 

Total  cost  for  Plant  and  Structure $104,670.44 

Total  actual   cost   of   Plant   and   I/roixTty   of 

Broadway  Line  prior  to  Miwrh  ]!).  1913.  .  .$104,670.44 

9 


FULTON    STREET    LINE 

Cost  of  Plant  and  Structure : 

Intangible  Street  Railway  Capital:  (a)  (b) 

Organization   $63.75         $23.91 

Other  Intangible  Street  Railway  Capital      4,700.45       1  J62.67 

Land: 

•      Right  of  Way 71.94  26.98 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.  . .  .       2,647.16  992.69 

Interest  during  construction 95,931.93     35,974.48 

Suspense : 

Unamortized  debt  discount  and  expense       1,255.21  470.70 

Total  cost  of  Plant  and  Structure. $104,670.44  $39,251.43 

Total  actual  cost  of  Plant  and  Property  for 

Fulton  Street  Line,  prior  to  Mar.  19,  1913. $143,921.87 

(a)  Third  and  fourth  additional  tracks  along  the  line  of  existing 

Fulton  Street  Line. 

(b)  Additional  connection  tracks  at  East  New  York. 


10 


MYRTLE   AVENUE 

Cost  of  Plant  and  Structure : 
Inta7igihle  Street  Railway  Capital: 

Organization    $7.97 

Other  Intangible  Street  Railway.  Capital .'  587.56 

La7id: 

Right  of  Way 8.99 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 330.89 

Interest  during  construction 11,991.49 

Suspense : 

Unamortized  debt  discount  and  expense 156.90 

Total  cost  of  Plant  and  Structure $13,083.80 

Total  actual  cost  of  Plant  and  Property  for 

Myrtle  Avenue  Line  prior  to  :Mar.  19,  1913.  $13,083.80 

Dated  New  York,  October  14,  1913. 

Alfred  Craven, 
Chief  Engineer  of  the  Public  Service 
Commission  for  the  First  District. 


11 


In  the  Mattbb 


OF  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  fori 
the  First  District  under  the  Certifi-( 
cate  dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Munici- 
pal Eailway  Corporation- of  the  actual' 
cost  of  Plant  and  Structure  and  actual 
cost  of  Equipment  of  the  Broadway, 
Fulton  Street  and  Myrtle  Avenue 
Additional  Tracks,  paid  or  accrued 
prior  to  March  19,  1913. 


Peior  Determination 

"  Additional  Tracks  " 

November  24,  1913. 


Note. — This  Prior  Determination  was  first  rendered  by  me  under 
date  of  October  14,  1913,  and  is  now  revised  under  this  date  pursuant 
to  a  stipulation  entered  into  between  the  New  York  Municipal  Hallway 
Corporation  and  the  Commission  as  noted  herein. 


N.  Y.  M,— E.  D.  Prior  C— 700-Apr.,  '15  (B) 


To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  Contract  4  and  the 
certificates  related  thereto,  under  this  date  I  am  rendering 
in  detail  my  determinations  of  the  costs  paid  or  accrued 
prior  to  March  19,  1913,  separately  with  respect  to 
Contract  4  and  each  certificate. 

These  determinations,  summarized,  are  for 

Expenditures  Expenditures 

Contract    4 — Railroad:  by  City.  by  Lessee.  Total. 

Cost    of    Construction $33,531,583.57  $653,740.67        $34,185,324.24 

Cost    of    Equipment 784,488.82  784,488.82 

Total     Cost     of    the 

Railroad    $33,531,583.57  $1,438,229.49        $34,969,813.06 

Contract  4 — Reconstruc- 
tion of  Existing  Rail- 
roads: 

Cost    of    Construction 882,999.51  882,999.51 

Cost    of    Equipment 294,183.29  294,183.29 

Total  Cost  of  Recon- 
struction of  Ex- 
isting   Railroads..  $1,177,182.80  $1,177,182.88 

Total  Cost  of  Con- 
tract   4 $33,531,683.57  $2,615,412.29        $36,146,995 . 8« 

Certificate  for  A  d  d  i  t  i  o  n  a  1 

Tracks:    None  None 

Certificate  for  Elevated  Exten- 
sions:      None  None 

Total  for  New  York 
Municipal  Railway 
Corporation  Lines, 
Contract  4  and 
Certificates $33,531,683.67  $2,615,412.29        $36,146,996.8* 

Dated  New  York, 

November  24,  1913. 

ALFRED  CRAVEN, 

Chief  Engineer 
Public  Service  Commission  for  the  First  District. 


In  the  Matter 


OF  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  fori 
the  First  District  under  the  Certifi-' 
cate  dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Munici- 1 
pal  Eailway  Corporation  of  the  actual 
cost  of  Plant  and  Structure  and  actual 
cost  of  Equipment  of  the  Broadway, 
Fulton  Street  and  Myrtle  Avenue 
Additional  Tracks,  paid  or  accrued 
prior  to  March  19,  1913. 


Prior   Determination 

"  Additional  Tracks  '' 

November  24,  1913. 


Note. — This  Prior  Determination  was  first  rendered  by  me  under 
date  of  October  14,  1913,  and  is  now  revised  under  this  date  pursuant 
to  a  stipulation  entered  into  between  the  New  York  Municipal  Railway- 
Corporation  and  the  Commission  as  noted  herein. 


To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal,  Eailway  Corporation: 

Pursuant  to  the  provisions  of  the 

CEETIFICATE  dated  March  19,  1913,  from  the  Public  Service 
Commission  for  the  First  District  to  the  New  York  Municipal  Eail- 
way Corporation,  authorizing  it: 

"  To  lay  additional  tracks  on,  above  or  contiguous  to,  portions 
of  the  route  or  routes  of  its  railroads  within  New  York,"  etc. ; 

And  in  accordance  with  the  terms  of  Article  IX  thereof,  I 
hereby  render  my  determination  of  the  actual  cost  of  the  Plant  and 
Structure  and  of  the  actual  cost  of  Equipment  of  the  several  Rail- 
roads paid  or  accrued  prior  to  March  19,  1913. 

No  expenditures  have  been  apportioned  to  the  Broadway,  Ful- 
ton Street  and  Myrtle  Avenue  Additional  Tracks  which  are  author- 
ized under  the  Certificate  for  the  following  reasons : 

When  there  are  expenditures  of  an  executive  and  administra- 
tive nature  it  is  impossible  to  allocate  them  to  specific  construction. 
Such  expenditures  may  properly  be  distributed  among  the  several 
lines  affected  in  each  particular  case  on  the  basis  of  relative  esti- 
mated costs.  An  understanding  with  respect  thereto  between  rep- 
resentatives of  the  Commission,  the  New  York  Municipal  Eailway 
Corporation  and  myself,  is  shown  in  "  A  Schedule  of  Agreed  Divi- 
sion of  General  Construction  and  Equipment  Expenses,"  set  forth 
in  my  determination  under  this  date  of  Cost  of  Construction  and 
Cost  of  Equipment  under  Contract  4.  This  understanding  covers 
all  of  the  work  done  by  the  New  York  Municipal  Eailway  Corpora- 
tion under  Contract  4  and  the  related  Certificates,  including  the 
one  under  which  this  determination  is  made. 

The  expenditures  on  account  of  New  York  Municipal  Eailway 
Corporation  prior  to  March  19,  1913,  were  of  the  kind  covered  by 
the  schedule  just  referred  to  and  in  particular,  were  made  in  ac- 
quiring moneys  in  anticipation  of  the  signing  of  the  Contract  and 
the  granting  of  the  Certificates  and  for  organization  and  prelim- 
inary legal  and  engineering  expenses.  Inasmuch  as  the  Eailroads 
authorized  by  this  Certificate  are  not  legalized,  it  was  requested  by 
the  New  York  Municipal  Eailway  Corporation,  and  deemed  proper 

5 


by  the  Commission,  that  these  preliminary  expenses  be  applied  to 
Reconstruction  of  Existing  Railroads  under  Contract  4  for  this 
"  Prior  "  determination.  This  matter  is  covered  by  a  stipulation 
between  New  York  Municipal  Railway  Corporation  and  the  Com- 
mission, dated  November  18,  1913,  in  which  the  principle  of  the 
schedule  above  mentioned  is  confirmed  and  "  In  particular  the  Rail- 
way Corporation  agrees  that  the  proportionate  part  of  such  items 
that  would  properly  be  allocable  to  additional  tracks  and  extensions 
(if  such  consents  had  been  obtained  therefor)  may  be  allocated  tem- 
porarily to  Reconstruction  of  Existing  Railroads  for  Initial  Opera- 
tion, and  that  when  and  as  the  necessary  constitutional  consents  are 
obtained  for  any  additional  tracks  or  extensions  the  Chief  Engineer 
may  transfer  from  Reconstruction  of  Existing  Railroads  for  Initial 
Operation  to  the  additional  tracks  or  extensions  for  which  such  con- 
sents shall  have  been  obtained  the  amounts  which  otherwise  would 
have  been  allocated  thereto  in  the  first  instance." 

A  complete  copy  of  the  above  mentioned  stipulation  is  hereto 
annexed  as  an  appendix. 
Dated 

November  24,  1913. 

ALFRED    CRAVEN, 

Chief  Engineer 
Public  Service  Commission  for  the  First  District. 


APPENDIX. 

Stipulation  made  this  18th  day  of  November,  1913,  by  and  between 
the  Public  Service  Commission  for  the  First  District,  hereinafter  re- 
ferred to  as  the  "  Commission,"  and  New  York  Municipal  Railway  Cor- 
poration, hereinafter  referred  to  as  the  "  Railway  Corporation." 

Whereas  acting  under  the  provisions  of  the 

(1)  Contract  dated  March  19,  1913,  between  the  City  of  New 
York,  acting  by  the  Commission,  and  the  Railway  Corporation, 
known  as  Contract  No.  4, 

(2)  The  certificate  dated  March  19,  1913,  granted  by  the 
Commission  to  the  Railway  Corporation  for  additional  tracks, 
and 

(3)  The  certificate  dated  March  19,  1913,  granted  by  the 
Commission  to  the  Railway  Corporation  for  extensions. 

The  Chief  Engineer  of  the  Commission  has  rendered  certain  determina- 
tions bearing  date  the  14th  day  of  October,  1913,  of  the  cost  of  con- 
struction, cost  of  equipment,  actual  cost  of  plant  and  structure  and 
actual  cost  of  equipment  paid  or  accrued  prior  to  March  19,  1913;  and 

Whereas,  included  in  such  determinations  are  various  items  of  cost 
not  susceptible  of  specific  allocation  to  the  various  lines  and  subdivi- 
sions referred  to  in  the  contract  and  certificates,  but  which  in  such 
determinations  are  allocated  to  such  lines  and  subdivisions  in  accord- 
ance with  an  empirical  method  of  allocation;  and 

Whereas,  in  accordance  with  such  method  of  allocation  portions  of 
such  items  have  been  allocated  to  lines  or  subdivisions  for  which  the 
necessary  constitutional  consents  have  not  as  yet  been  obtained;  and 

Whereas  such  method  of  allocation  was  based  in  part  upon  the 
suggestion  that  under  the  contract  and  certificates  the  Chief  Engineer 
was  required  to  make  in  each  determination  a  definite  and  final  alloca- 
tion of  such  items  despite  the  fact  that  all  allocations  of  such  items 
are  necessarily  subject  to  readjustment  because  of  changing  conditions 
arising  out  of  the  prosecution  of  the  work  under  said  contract  and 
certificates ;   and 

Whereas,  the  Commission  and  the  Railway  Corporation  recognize 
the  right  of  the  Chief  Engineer  under  said  contract  and  certificates  to 
allocate  such  items  in  proper  proportionate  parts  to  various  lines  and 
subdivisions  for  which  the  necessary  constitutional  consents  shall 
have  been  obtained  and  thereafter,  from  time  to  time,  to  reallocate 
such  items  or  portions  thereof  as  may  be  necessary,  so  that  as  soon 
as  practicable  there  shall  be  allocated  to  each  line  and  subdivision 
its  proper  proportionate  part  of  such  items  upon  the  basis  of  the  rela- 


tive  cost  applicable  to  such  line  or  subdivision  to  the  cost  applicable 
to  the  other  lines  and  subdivisions  as  contemplated  in  said  contract 
and  certificates;  and 

Whereas,  the  Chief  Engineer  has  expressed  his  willingness  to  with- 
draw such  determinations  upon  the  request  of  the  Commission  and  the 
Railway  Corporation;  and 

Whereas,  the  Commission  and  the  Railway  Corporation  construe 
the  contract  and  certificates  as  giving  such  right  of  allocation  and 
reallocation  to  the  Chief  Engineer  and  enter  into  this  stipulation  not 
for  the  purpose  of  varying  or  modifying  any  of  the  provisions  of  such 
contract  and  certificates  but  for  the  purpose  of  regulating  matters  of 
detail  thereimder  and  to  avoid  possible  future  misunderstandings. 

Now  Thekefore,  the  Commission  and  the  Railway  Corporation 
hereby  stipulate  and  agree  as  follows : 

First:  The  Commission  and  the  Railway  Corporation  hereby  ex- 
pressly recognize  and  confirm  the  right  of  the  Chief  Engineer  under  said 
contract  and  certificates  to  allocate  in  proper  proportionate  parts  to  the 
various  lines  and  subdivisions  for  which  the  necessary  constitutional  con- 
sents shall  have  been  obtained  all  such  items  of  cost  as  are  not  suscep- 
tible of  specific  allocation,  and  thereafter,  from  time  to  time,  to  reallo- 
cate such  items  in  whole  or  in  part  as  may  be  necessary,  so  that  as  soon 
as  practicable  there  shall  be  finally  allocated  to  each  such  line  and 
subdivision  no  more  and  no  less  than  its  proper  proportionate  part  of 
such  items  upon  the  basis  of  the  relative  cost  applicable  to  said  line 
or  subdivision  to  the  cost  applicable  to  the  other  lines  and  subdivisions 
as  contemplated  in  said  contract  and  certificates. 

Second:  In  the  case  of  lines  or  subdivisions  for  which  the  neces- 
sary constitutional  consents  have  not  at  the  time  of  rendering  any 
determination  been  obtained,  the  Chief  Engineer  may  allocate  the  pro- 
portionate part  of  such  items  that  otherwise  would  be  allocable  to  such 
lines  or  subdivision,  to  other  lines  or  subdivisions  for  which  the  neces- 
sary constitutional  consents  have  been  obtained;  and  thereafter,  when 
and  as  the  necessary  constitutional  consents  are  obtained,  the  Chief 
Engineer  may  transfer  the  amounts  so  allocated  from  the  lines  or 
subdivisions  to  which  they  have  been  allocated  to  the  line  or  subdi- 
vision for  which  such  consents  shall  have  been  obtained,  so  that  each 
line  or  subdivision  will  bear  its  equitable  and  proper  share  of  such 
items.  In  particular  the  Railway  Corporation  agrees  that  the  propor- 
tionate part  of  such  items  that  would  properly  be  allocable  to  addi- 
tional tracks  and  extensions  (if  such  consents  had  been  obtained  there- 
for) may  be  allocated  temporarily  to  Reconstruction  of  Existing  Rail- 
roads for  Initial  Operation,  and  that  when  and  as  the  necessary  con- 
stitutional consents  are  obtained  for  any  additional  tracks  or  extensions 
the  Chief  Engineer  may  transfer  from  Reconstruction  of  Existing 
Railroads  for  Initial  Operation  to  the  additional  tracks  or  extensions 
for  which  such  consents  shall  have  been  obtained  the  amounts  which 
otherwise  would  have  been  allocated  thereto  in  the  first  instance. 

Third:   The  Chief  Engineer  may  withdraw  the  several  determina- 

8 


tions  bearing  the  date  the  14th  day  of  October,  1913,  such  withdrawal  to 
have  the  same  force  and  effect  as  though  such  determinations  had  not 
been  rendered. 

Fourth:  The  time  of  the  Chief  Engineer  to  render  the  determina- 
tions of  cost  of  construction,  cost  of  equipment,  actual  cost  of  plant 
and  structure  and  actual  cost  of  equipment  paid  or  accrued  prior  to 
March  19,  1913,  is  hereby  extended  to  and  including  the  25th  day  of 
November,  1913. 

Fifth:  This  stipulation  shall  be  without  prejudice  to  any  right 
of  the  Commission  or  of  the  Railway  Corporation  under  said  contract 
or  certificates  to  object  to  any  determinations  of  the  Chief  Engineer. 

Sixth:  This  stipulation  shall  not  apply  to  items  of  cost  susceptible 
of  specific  allocation,  the  intention  being  that  the  Chief  Engineer  shall 
allocate  all  such  items  as  are  susceptible  of  specific  allocation  to  the 
particular  lines  or  subdivisions  to  which  they  shall  respectively  belong. 

Seventh:  This  stipulation  shall  continue  in  force  and  effect  until 
the  beginning  of  Initial  Operation  under  said  contract. 

In  Witness  Whereof  the  Commission  has  caused  its  official  seal 
to  be  hereto  affixed  and  attested  by  its  Secretary  and  this  stipulation 
to  be  signed  by  its  Chairman,  and  the  Railway  Corporation  has  caused 
its  corporate  seal  to  be  hereto  affixed  and  attested  by  its  Secretary 
and  this  stipulation  to  be  signed  by  its  President,  all  the  day  and  year 
first  above  written. 

PUBLIC  SERVICE  COMMISSION  FOR  THE  FIRST 
DISTRICT, 

[SEAL   OF  THE  by  EDWARD  E.  McCaLL, 

COMMISSION]  Chairman. 

Attest : 

Travis  H.  Whitney, 

Secretary. 

NEW   YORK   MUNICIPAL   RAILWAY    CORPORA- 
TION, 


[seal  OF  the  rail-  by  T.  S.  Williams, 

WAY  CORPORATION]  President. 

Attest : 

ll»A.  Bullock, 

Secretary. 


In  the  Matter 


Ho.  3 


OF  THE 

Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  Certifi- 
cate dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Muni- 
cipal Railway  Corporation,  of  the  ac- 
tual cost  of  Plant  and  Structure  and 
actual  cost  of  Equipment  of  the  Ja- 
maica Line  and  the  Liberty  Avenue 
Line,  paid  or  accrued  prior  to  March 

19, 1913.  e^.,a/.^d.  ^t 


Prior  Determination 
''Elevated  Exten- 
sions" 
October  14,  1913. 


N.  Y.  M.— E.  D.  Prior  D— 1,500-0,  '13  (N) 


To  the 

Public  Service  Commission  for  the  First  District  and 
New    York    Municipal   Raihvay    Corporation: 

Pursuant  to  the  provisions  of  Contract  4  and  the 
certificates  related  thereto,  under  this  date  I  am  reo- 
dering  in  detail  my  determinations  of  the  costs  paid  or 
accrued  prior  to  March  19,  1913,  separately  with 
respect  to  Contract  4  and  each  certificate. 

These  determinations,  summarized,  are  for 

Contract  4 — Railroad: 
Cost  of  Construction    ------   $34,185,324.24 

Cost  of  Equipment  -------  784,488.82 

Total  Cost  of  the  Railroad    -     -     -     -   $34,969,813.06 

Contract  4 — Reconstruction  of  Existing  Railroads: 
Cost  of  Construction    ------         $392,244.39 

Cost  of  Equipment  -     ------  130,748.13 

Total  Cost  of  Reconstruction  of  Exist- 
ing Railroads    -------         $522,992.52 

Total  Cost  of  Contract  4  -     -     -     -     -   $35,492,805.58 

Certificate  for  Additional  Tracks: 
Actual  Cost  of  Plant  and  Structure     -         $261,676.11 
Actual  Cost  of  Equipment     -     -     -     -  

Actual  Cost  of  Plant  and  Property      -         $261,676.11 

Certificate  for  Elevated  Extensions: 
Actual  Cost  of  Plant  and  Structure     -         $196,257.08 
Actual  Cost  of  Equipment     -     -     -     -  196,257.09 

Actual  Cost  of  Plant  and  Property      -         $392,514.17 
Total  for  Municipal  Railway  Corpora- 
tion, Contract  4  and  Certificates  -   $36,146,995.86 

ALFRED    CRAFEN, 

Chief  Engineer 
Public  Service  Commission  for  the  First  District, 


In  the  Matter 


OF   THE 

Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  Certifi- 
cate dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Muni- 
cipal Railway  Corporation,  of  the  ac- 
tual cost  of  Plant  and  Structure  and 
actual  cost  of  Equipment  of  the  Ja- 
maica Line  and  the  Liberty  Avenue 
Line,  paid  or  accrued  prior  to  March 
19,  1913. 


Prior  Determination 
''Elevated  Exten- 
sions ' ' 
October  14,  1913. 


To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  the 

CERTIFICATE,  dated  March  19,  1913,  from  the  Public 
Service  Commission  for  the  First  District  to  the  New  York  Muni- 
cipal Railway  Corporation,  authorizing  as  follows:  To  construct 
the  Jamaica  Line,  Liberty  Avenue  Line ;  terminal  yards,  stations, 
etc. ;  to  acquire  real  estate  therefor  and  to  construct  wires, 
cables,  etc. ; 

And  in  accordance  with  the  terms  of  Article  IX  thereof  I 
hereby  render  my  determination  of  the  actual  cost  of  Plant 
and  Structure  and  of  the  actual  cost  of  Equipment  of  the  several 
Railroads  paid  or  accrued  prior  to  March  19,  1913. 

For  the  Jamaica  Line  and  the  Liberty  Avenue  Line, 

The  actual  cost  of  Plant  and  Structure  (Article  IX  of  the 
above  mentioned  Certificate)  is  as  follows: 

(1)  Labor  and  materials 

(2)  Real  estate $134.88 

(3)  Debt  discount  and  expense 2,353.51 

(4)  Taxes 75.00 

(5)  Superintendence,  etc 13,821.32 

(6)  Interest 179,872.37 

Total $196,257.08 

The  actual  cost  of  Equipment  is  as  follows : 

(1)  Labor  and  materials 

(2)  Real  estate $134.88 

(3)  Debt  discount  and  expense 2,353.51 

(4)  Taxes 75.00 

(5)  Superintendence,  etc 13,821.33 

(6)  Interest 179,872.37 

Total $196,257.09 

Actual  Cost  of  Plant  and  Property $392,514.17 

Each  of  these  parts  of  the  actual  cost  of  plant  and  structure 
and  actual  cost  of  equipment  of  elevated  extensions  is  taken  up 
hereafter  in  its  order.  They  are  shown  as  applied  to  the 
several  lines,   and  represent  actual  expenditures  chargeable  to 

3 


the  respective  lines.  It  is  necessary  to  keep  the  cost  separate  as 
to  lines  in  order  to  provide  a  basis  for  computing  deductions 
from  revenue  in  the  case  of  temporary  operation  (Article  XLIX, 
Subdivision  7,  of  Contract  No.  4,  embodied  in  Article  X  of  the 
Certificate) . 

The  records  of  costs,  from  which  this  determination  is  made, 
are  kept  in  such  detail  that  the  cost  of  any  principal  part  of  the 
Railroads  may  be  identified  so  that  in  case  of  its  retirement  or 
withdrawal  from  service,  the  said  cost  may  be  withdrawn  from 
the  appropriate  depreciation  fund  as  provided  under  Article 
XLIX,  Subdivision  5,  of  Contract  No.  4,  as  embodied  in  Article 
X  of  the  Certificate.  A  summary  of  these  records  will  be  given 
in  appendices  as  they  appear.  The  Uniform  System  of  Accounts 
as  prescribed  by  the  Public  Service  Commission  is  followed  for 
this  purpose. 

When  there  are  expenditures  of  an  executive  and  administra- 
tive nature  it  is  impossible  to  allocate  them  to  specific  construc- 
tion. Such  expenditures  made  by  the  New  York  Municipal  Rail- 
way Corporation  I  have  distributed  among  the  several  lines 
affected  in  each  particular  case  on  the  basis  of  relative  estimated 
costs.  The  percentages  used  are  given  in  a  tabulation  which 
represents  the  understanding  with  respect  thereto  between 
representatives  of  New  York  Municipal  Railway  Corporation 
and  myself.  This  understanding  covers  all  of  the  work  provided 
to  be  done  by  the  New  York  Municipal  Railway  Corporation 
under  Contract  No.  4  and  the  related  certificates  including  their 
contribution  to  the  City's  Railroad  and  its  terms  are  stated  in 
my  determination  of  Cost  of  Construction  and  Cost  of  Equip- 
ment made  under  Contract  No.  4.  It  is  subject  to  modification 
by  me  at  any  time  that  the  facts  indicate  that  it  should  be  modi- 
fied. The  application  of  this  percentage  distribution  accoimts 
for  all  of  the  items  herein  reported. 

ACTUAL  COST  OF  PLANT  AND  STRUCTURE 

Real  estate.  ''(2)   The    actual    and   necessary   net 

cost  in  money  to  the  Subway  Company  of 
any  real  estate  or  interest  therein,  including  consents  and 
easements  necessarily  acquired  for  the  construction  or 
operation  of  the  plant  and  structure,  or  such  permanent 
additions  thereto,  other  than  replacements  or  substitutions, 
together  with  the  actual  and  necessary  expenses  in  connec- 
tion with  such  acquisition." 


The  cost  of 

(2)  Real  estate  for  the  specified  lines  of  the  Railroads  is  as 
follows : 

(I)  Jamaica  Line  $94.42 

(II)  Liberty  Avenue  Line 40.46 

Total  cost  for  Real  Estate  pursuant  to 
the  Certificate  prior  to  March  19, 
1913   $134.88 

Debt  discount  ''(3)   The  debt  discount  and  expense 

and  expense,  actually  and  necessarily  incurred  in  con- 
nection with  the  construction  of  the  plant 
and  structure  and  additions  thereto  from  time  to  time, 
provided,  however,  that  the  debt  discount  and  expense, 
except  in  the  case  of  additions,  shall  not  exceed  an  amount 
equal  to  three  per  centum  (3%)  of  the  actual  cost  of  the 
plant  and  structure  including  in  such  cost  the  expendi- 
tures under  this  paragraph.'' 

The  cost  of 

(3)  Debt  discount  and  expense  for  the  specified  lines  of  the 
Railroads  is  as  follows: 

(I)  Jamaica  Line.* $1,647.46 

(II)  Liberty  Avenue  Line 706.05 

Total  cost  for  Debt  discount  and  ex- 
pense pursuant  to  the  Certificate 
prior  to  March  19,  1913 $2,353.51 

Taxes.  ''(4)   Taxes  and  assessments  actually 

and  necessarily  paid  or  accrued  upon  the 
items  of  this  definition  pending  the  beginning  of  operation, 
including  the  word  'taxes,'  assessments  or  other  govern-  ' 
mental  charges  (including  mortgage  recording  tax)  of 
every  description  against  the  Subway  Company  in  and 
about  the  construction  of  the  plant  and  structure  and  addi- 
tions thereto  from  time  to  time.  During  operation  such 
assessments  for  benefits  as  are  not  properly  chargeable 
against  revenue  shall  be  charged  to  such  actual  cost." 

The  cost  of 

(4)  Taxes   for  the   specified   lines   of   the   Railroads   is   as 
follows : 

(I)  Jamaica  Line $52.50 

(II)  Liberty  Avenue  Line 22.50 

Total   cost   for   Taxes   pursuant   to   the 

Certificate  prior  to  March  19,  1913. .  .   $75.00 

5 


Superinten-  *' (5)  The   actual   and   necessary   net 

dence,  etc.  cost  in  money  to  the  Subway  Company 

for  superintendence,  damages,  insurance, 
engineering,  legal  expenses  and  administration,  in  and 
about  the  construction  or  acquisition  of  the  plant  and 
structure  or  such  additions  thereto  or  the  improvements  or 
betterments  aforesaid  and  including  in  respect  of  the  plant 
and  structure  (exclusive  of  additions)  the  expenses  above 
referred  to  in  this  paragraph  actually  and  necessarily 
incurred  or  payable  by  the  Subway  Company  prior  to  the 
date  of  this  certificate  and  in  addition  the  actual  and 
necessary  expense  incurred  or  payable  by  the  Subway 
Company  in  printing,  engraving  and  certifying  securities 
for  the  plant  and  structure  (exclusive  of  additions),  and 
the  actual  and  necessary  expenses  in  organizing  the  Sub- 
way Company." 

The  cost  of 

(5)  Superintendence,  etc.,  for  the  specified  lines  of  the  Rail- 
roads is  as  follows: 

(I)  Jamaica  Line $9,674.93 

(II)  Liberty  Avenue  Line 4,146.39 

Total  cost  for  Superintendence,  etc., 
pursuant  to  the  Certificate  prior 
to  March  19,  1913 13,821.32 

Interest.  ^'(6)   Interest  actually  and  necessarily 

paid  or  accrued  on  moneys  provided  by 
the  Subway  Company  or  on  its  behalf  from  time  to  time 
for  the  items  of  this  definition  from  the  respective  time  of 
providing  said  moneys  (but  not  including  interest  on  any 
moneys  provided  by  the  Subway  Company  or  on  its  behalf 
prior  to  October  1,  1912)  to  the  beginning  of  operation  on 
the  part  of  the  plant  and  structure  for  which  such  moneys 
were  provided,  less  any  interest  received  by  the  Subway 
Company  or  on  behalf  of  the  Subway  Conipany  on  such 
moneys. ' ' 

The  cost  of 

(6)  Interest  for  the  specified  lines  of  the  Railroads  is  as 
follows : 

(I)  Jamaica  Line $125,910.66 

(II)  Liberty  Avenue  Line 53,961.71 

Total  cost  for  Interest  pursuant  to 
the  Certificate  prior  to  March 

19,  1913   $179,872.37 

6 


ACTUAL  COST  OF  EQUIPMENT 

Real  estate.  ^'(2)  The    actual   and   necessary   net 

cost  in  money  to  the  Subway  Company 
of  any  real  estate  or  interest  therein  including  consents 
and  easements  necessarily  acquired  for  the  construction 
or  operation  of  equipment  or  such  additions  thereto,  other 
than  replacements  or  substitutions  together  with  the  actual 
and  necessary  expenses  in  connection  with  such  acquisi- 
tion." 

The  cost  of 

(2)  Real  estate  for  the  specified  lines  of  the  Railroads  is 
as  follows: 

(I)  Jamaica  Line $94.42 

(II)  Liberty  Avenue  Line 40.46 

Total  cost  for  Real  Estate  pursuant  to 
the  Certificate  prior  to  March  19, 
1913 $134.88 

Debt  discount  ''(3)  The  debt  discount  and  expense 

and  expense,  actually  and  necessarily  incurred  in  con- 
nection with  the  equipment  and  additions 
thereto  from  time  to  time,  provided,  however,  that  the  debt 
discount  and  expense,  except  in  the  case  of  additions,  shall 
not  exceed  an  amount  equal  to  three  per  centum  (3%) 
of  the  actual  cost  of  equipment  including  in  such  actual 
cost  the  expenditures  under  this  paragraph." 

The  cost  of 

(3)  Debt  discount  and  expense  for  the  specified  lines  of  the 
Railroads  is  as  follows : 

(I)  Jamaica  Line $1,647.46 

(II)  Liberty  Avenue  Line 706.05 

Total  cost  for  Debt  discount  and  ex- 
pense pursuant  to  the  Certificate 
prior  to  March  19,  1913 $2,353.51 


Taxes.  "W   Taxes  and  assessments  actually 

and  necessarily  paid  or  accrued  upon  the 
items  of  this  definition  pending  the  beginning  of  opera- 
tion, including  the  word  '  taxes, '  assessments  or  other  gov- 
ernmental charges  (including  mortgage  recording  tax)  of 
every  description  against  the  Subway  Company  in  and 
about  the  construction  or  acquisition  of  Equipment  and 
additions  thereto  from  time  to  time.  During  operation 
such  assessments  for  benefits  as  are  not  properly  charge- 
able against  revenue  shall  be  charged  to  such  actual  cost." 

The  cost  of 

(4)  Taxes  for  the  specified  lines  of  the  Railroads  is  as  follows 

(I)  Jamaica  Line $52.50 

(II)  Liberty  Avenue  Line 22.50 


Total  cost  for  Taxes  pursuant  to  the  Cer- 
tificate prior  to  March  19,  1913 $75.00 

Superinten-  ''(5)  The   actual   and   necessary   net 

dence,  etc.  cost  in  money  to  the  Subway  Company  for 

superintendence,  insurance,  damages,  en- 
gineering, legal  expenses,  insurance  and  administration  in 
and  about  the  acquisition  or  construction  of  equipment  or 
such  additions  thereto,  including  in  respect  of  equipment 
(exclusive  of  additions)  the  expenses  above  referred  to  in 
this  paragraph  actually  and  necessarily  incurred  or  pay- 
able by  the  Subway  Company  prior  to  the  date  of  this  cer- 
tificate and  in  addition  the  actual  and  necessary  expense 
incurred  or  payable  by  the  Subway  Company  in  printing, 
engraving  and  certifying  securities  for  equipment  (exclu- 
sive of  additions),  and  the  actual  and  necessary  expense 
in  organizing  the  Subway  Company." 

The  cost  of 

(5)  Superintendence,  etc.,  for  the  specified  lines  of  the  Rail- 
roads is  as  follows : 

(I)  Jamaica  Line $9,674.94 

(II)  Liberty  Avenue  Line 4,146.39 

Total  cost  for  Superintendence,  etc., 
pursuant  to  the  Certificate,  prior 
to  March  19,  1913 $13,821.33 


Interest.  "  (6)  Interest  actually  and  necessarily 

paid  or  accrued  on  moneys  provided  by 
the  Subway  Company  or  on  its  behalf  from  time  to  time  ^ 

for  the  items  of  this  definition  from  the  respective  times  of 
providing  said  moneys  (but  not  including  interest  on  any 
moneys  provided  by  the  Subway  Company  or  on  its  behalf 
prior  to  October  1,  1912)  to  the  beginning  of  operation  of 
the  part  of  the  equipment  for  which  such  moneys  were 
provided,  less  any  interest  received  by  the  Subway  Com- 
pany or  on  behalf  of  the  Subway  Company  on  such 
moneys. ' ' 

The  cost  of 

(6)    Interest  for  the  specified  lines  of  the  Railroads  is   as 
follows : 

(I)  Jamaica  Line $125,910.66 

(II)  Liberty  Avenue  Line. 53,961.71 

Total  cost  for  Interest  pursuant  to 
the  Certificate,  prior  to  March 
19,  1918   $179,872.37 


APPENDIX  EXPLANATORY  OF   THE  ABOVE 
DETERMINATION 

Debt  discount  and  expense.  In  the  determination  of  Cost 

of    Construction    and     Cost     of 

Lessee's  expense  for  Equipment  of    the    Railroad    for 

Superintendence.  Initial  Operation  made  under  this 

same  date,  the  character  and  divis- 

Taxes.  ion  of  expenditures  by  the  Lessee 

prior  to  March  19,  1913,  are  fully 

Interest.  explained,  and  reference  is  hereby 

made  to  them  to  identify  the  en- 
tries herein. 


UNIFORM    SYSTEM    OF   ACCOUNTS 

The  details  of  the  Costs  hereinbefore  set  forth  should  be 
classified  in  accordance  with  the  uniform  system  of  accounts 
prescribed  for  street  and  electric  railways  by  the  Public  Service 
Commission  in  its  order  of  December  8,  1908,  as  follows: 

9 


For  the  Elevated  Extensions, 

The  Cost  of  Plant  and  Structure  is  as  follows : 

Intangible  Street  Baihvay  Capital: 

Organization   $1 19.53 

Other  Intangible  Street  Railway  Capital 8,813.35 

Land : 

Eight  of  Way 134.88 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 4,963.44 

Interest  during  construction 179,872.37 

Suspense : 

Unamortized  debt  discount  and  expense 2,353.51 

Total  Cost  of  Plant  and  Structure $196,257.08 


The  Cost  of  Equipment  for  Initial  Operation  is  as  follows : 

Intangible  Street  Raihvay  Capital: 

Organization $119.54 

Other  Intangible  Street  Railway  Capital 8,813.35 

Land: 

Right  of  Way 134.88 

Undistributed  Construction  Expenditures : 

Engineering  and  Superintendence 4,963.44 

Interest  during  construction 179,872.37 

Siispense: 

Unamortized  debt  discount  and  expense 2,353.51 

Total  Cost  of  Equipment $196,257.09 

Total  Actual  Cost  of  Plant  and  Property  for 

Elevated  Extensions  prior  to  March  19,  1913     $392,514.17 

These  costs  under  the  Uniform  System  of  Accounts  are  for 
each  line  of  the  Railroads  as  follows: 

10 


JAMAICA  LINE 

Cost  of  Plant  and  Structure:  ^ 

Intangible  Street  Railway  Capital: 

Organization   83.67 

Other  Intangible  Street  Railway  Capital 6,169.35 

Land: 

Right  of  Way 94.42 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 3,474.41 

Interest  during  construction 125,910.66 

Suspense : 

Unamortized  debt  discount  and  expense 1,647.46 


Total  cost  of  Plant  and  Structure $137,379.97 


Cost  of  Equipment: 

Intangible  Street  Railway  Capital: 

Organization 83.68 

Other  Intangible  Street  Railway  Capital 6,169.35 

Land : 

Right  of  Way 94.42 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 3,474.41 

Interest  during  construction 125,910.66 

Suspense : 

Unamortized  debt  discount  and  expense 1,647.46 

Total  cost  of  Equipment 137,379.98 

Total  Actual  Cost  of  Plant  and  Property  for 

Jamaica  Line,  prior  to  March  19,  1913 $274,759.95 

11 


LIBERTY  AVENUE  LINE. 

Cost  of  Plant  and  Structure : 
Intangible  Street  Railway  Capital: 

Organization   $35.86 

Other  Intangible  Street  Railway  Capital 2,644.00 

Land: 

Right  of  Way 40.46 

Undistrihuted  Construction  Expenditures : 

Engineering  and  Superintendence 1,489.03 

Interest  during  construction 53,961.71 

Suspense : 

Unamortized  debt  discount  and  expense 706.05 

Total  Cost  of  Plant  and  Structure $58,877.11 

Cost  of  Equipment : 

Intangible  Street  Raihvay  Capital: 

Organization    $35.86 

Other  Intangible  Street  Railway  Capital 2,644.00 

Land: 

Right  of  way 40.46 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 1,489.03 

Interest  during  construction 53,961.71 

Suspense : 

Unamortized  debt  discount  and  expense 706.05 

Total  Cost  of  Equipment $58,877.11 

Total  Actual  Cost  of  Plant  and  Property  for 

Liberty  Avenue  Line  prior  to  March  19,  1913     $117,754.22 

Dat(  (I  N(  w  York,  October  14,  1913. 

Alfred  Craven, 

Chief  Engineer  of  the  Public  Service 

Commission  for  the  First  District, 

12 


In  the  Mattbb 


OP  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for] 
the  First  District  imder  the  Certifi- 
cate dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Munici- 
pal Eailway  Corporation,  of  the  actual' 
cost  of  Plant  and  Structure  and  actual 
cost  of  Equipment  of  the  Jamaica 
Line  and  the  Liberty  Avenue  Line, 
paid  or  accrued  prior  to  March  19, 
1913. 


Pkioe  Determination 
^^  Elevated  Exten- 


sions 


November    24,  1913. 


Note, — This  Prior  Determination  was  first  rendered  by  me  under 
date  of  October  14,  1913,  and  is  now  revised  under  this  date  pursuant 
to  a  stipulation  entered  into  between  the  New  York  Municipal  Bailway 
Corporation  and  the  Commission  as  noted  herein. 


N.  Y.  M.—B.  D.  Prior  D,—700-Apr.,  '15  (B) 


To  the 

Puhlic  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railway  Corporation: 

Pnrsiiaut  to  the  provisions  of  Contract  4  and  the 
certificates  related  thereto,  under  this  date  I  am  rendering 
in  detail  my  determinations  of  the  costs  paid  or  accrued 
prior  to  March  19,  1913,  separately  with  respect  to 
Contract  4  and  each  certificate. 

These  determinations,  summarized,  are  for 

Expenditures  Expenditures 

Contract   4 — Kailroad:                     by  City.  by  Lessee.  Total. 

Cost    of    Construction $33,531,583.57  $653,740.67  $34,185,324.24 

Cost    of    Equipment 784,488.82  784,488.82 

Total     Cost     of    the 

Railroad    $33,531,583.57  $1,438,229.49        $34,969,813.06 

Contract  4 — Reconsti-ue- 
tion  of  Existing  Rail- 
roads : 

Cost    of    Construction 882,999.51  882,999.51 

Cost    of    Equipment 294,183.29  294,183.29 

Total  Cost  of  Recon- 
stmction  of  Ex- 
isting   Railroads.. $1,177,182.80  $1,177,182.80 

Total  Cost  of  Con- 
tract   4 '$33,531,583.57  $2,615,412.29        $36,146,995.86 

Certificate  for  Additional 

Tracks:    None  None 

Certificate  for  Elevated  Exten- 
sions :    None  None 

Total  for  Ne>4-  York 
Municipal  Railway 
Corporation  Lines, 
Contract  4  and 
Certificates $33,531,683.57  $2,615,412.29        $36,146,995.86 

Dated  Xew  York, 

]Srovember  24,  1913. 

ALFRED    CRAVEN, 

Chief  Engineer 
Puhlic  Service  Commissiofi  for  the  First  District. 


In  the  Matter 


OF  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  fori 
the  First  District  under  the  Certifi-| 
cate  dated  March  19,  1913,  from  the 
Public  Service  Commission  for  the 
First  District  to  the  New  York  Munici- 
pal Railway  Corporation,  of  the  actual 
cost  of  Plant  and  Structure  and  actual 
cost  of  Equipment  of  the  Jamaica 
Line  and  the  Liberty  Avenue  Line, 
paid  or  accrued  prior  to  March  19, 
1913. 


Prior  Determination 
"Elevated  Exten- 
sions " 

November  24,  1913. 


Note. — This  Prior  Determination  was  first  rendered  by  me  under 
date  of  October  14,  1913,  and  is  now  revised  under  this  date  pursuant 
to  a  stipulation  entered  into  between  the  New  York  Municipal  Railway 
Corporation  and  the  Commission  as  noted  herein. 


To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  tlie 

CEETIFICATE,  dated  March  19,  1913,  from  the  Public  Ser- 
vice Commission  for  the  First  District  to  the  New  York  Municipal 
Eailway  Corporation,  authorizing  as  follows:  To  construct  the 
Jamaica  Line,  Liberty  Avenue  Line ;  terminal  yards,  stations,  etc. ; 
to  acquire  real  estate  therefor  and  to  construct  wires,  cables,  etc.; 

And  in  accordance  with  the  terms  of  Article  IX  thereof  I  hereby 
render  my  determination  of  the  actual  cost  of  Plant  and  Structure 
and  of  the  actual  cost  of  Equipment  of  the  several  Railroads  paid 
or  accrued  prior  to  March  19,  1913. 

No  expenditures  have  been  apportioned  to  the  Jamaica  Line 
elevated  extension  and  the  Liberty  Avenue  Line  elevated  extension 
which  are  authorized  under  the  Certificate  for  the  following 
reasons : 

When  there  are  expenditures  of  an  executive  and  administra- 
tive nature  it  is  impossible  to  allocate  them  to  specific  construction. 
Such  expenditures  may  properly  be  distributed  among  the  several 
lines  affected  in  each  particular  case  on  the  basis  of  relative  esti- 
mated costs.  An  understanding  with  respect  thereto  between  rep- 
resentatives of  the  Commission,  the  New  York  Municipal  Railway 
Corporation  and  myself,  is  shown  in  "  A  Schedule  of  Agreed  Divi- 
sion of  General  Construction  and  Equipment  Expenses,^'  set  forth 
in  my  determination  under  this  date  of  Cost  of  Construction  and 
Cost  of  Equipment  under  Contract  4.  This  understanding  covers 
all  of  the  work  done  by  the  New  York  Municipal  Railway  Corpora- 
tion under  Contract  4  and  the  related  Certificates,  including  the  one 
under  which  this  determination  is  made. 

The  expenditures  on  account  of  New  York  Municipal  Railway 
Corporation  prior  to  March  19,  1913,  were  of  the  kind  covered  by 
the  schedule  just  referred  to  and  in  particular,  were  made  in  ac- 
quiring moneys  in  anticipation  of  the  signing  of  the  Contract  and 
the  granting  of  the  Certificates  and  for  organization  and  prelim- 
inary legal  and  engineering  expenses.  Inasmuch  as  the  Railroads 
authorized  by  this  Certificate  are  not  legalized,  it  was  requested  by 
the  New  York  Municipal  Railway  Corporation,  and  deemed  proper 
by  the  Commission,  that  these  preliminary  expenses  be  applied  to 
Reconstruction  of  Existing  Railroads  under  Contract  4  for  this 


"Prior"  determination.  This  matter  is  covered  by  a  stipulation  be- 
tween New  York  Municipal  Eailway  Corporation  and  the  Commis- 
sion, dated  November  18,  1913,  in  which  the  principle  of  the  sched- 
ule above  mentioned  is  confirmed  and  "  In  particular  the  Railway 
Corporation  agrees  that  the  proportionate  part  of  such  items  that 
would  properly  be  allocable  to  additional  tracks  and  extensions  (if 
such  consents  had  been  obtained  therefor)  may  be  allocated  tem- 
porarily to  Reconstruction  of  Existing  Railroads  for  Initial  Opera- 
tion, and  that  when  and  as  the  necessary  constitutional  consents  are 
obtained  for  any  additional  tracks  or  extensions  the  Chief  Engineer 
may  transfer  from  Reconstruction  of  Existing  Railroads  for  Initial 
Operation  to  the  additional  tracks  or  extensions  for  which  such  con- 
sents shall  have  been  obtained  the  amounts  which  otherwise  would 
have  been  allocated  thereto  in  the  first  instance." 

A  complete  copy  of  the  above  mentioned  stipulation  is  hereto 
annexed  as  an  appendix. 

Dated 

November  24,  1913. 

ALFRED    CRAVEN, 

Chief  Engineer 
Public  Service  Commission  for  the  First  District. 


APPENDIX. 

Stipulation  made  this  IStli  day  of  November,  1913,  by  and  between 
the  Public  Service  Commission  for  the  First  District,  hereinafter  re- 
ferred to  as  the  "  Commission,"  and  New  York  Municipal  Railway  Cor- 
poration, hereinafter  referred  to  as  the  "  Railway  Corporation." 

Whereas  acting  under  the  provisions  of  the 

(1)  Contract  dated  March  19,  1913,  between  the  City  of  New 
York,  acting  by  the  Commission,  and  the  Railway  Corporation, 
known  as  Contract  No.  4, 

(2)  The  certificate  dated  March  19,  1913,  granted  by  the 
Commission  to  the  Railway  Corporation  for  additional  tracks, 
and 

(3)  The  certificate  dated  March  19,  1913,  granted  by  the 
Commission  to  the  Railway  Corporation  for  extensions. 

The  Chief  Engineer  of  the  Commission  has  rendered  certain  determina- 
tions bearing  date  the  14th  day  of  October,  1913,  of  the  cost  of  con- 
struction, cost  of  equipment,  actual  cost  of  plant  and  structure  and 
actual  cost  of  equipment  paid  or  accrued  prior  to  March  19,  1913 ;  and 

Whereas,  included  in  such  determinations  are  various  items  of  cost 
not  susceptible  of  specific  allocation  to  the  various  lines  and  subdivi- 
sions referred  to  in  the  contract  and  certificates,  but  which  in  such 
determinations  are  allocated  to  such  lines  and  subdivisions  in  accord- 
ance with  an  empirical  method  of  allocation;  and 

Whe7^eas,  in  accordance  with  such  method  of  allocation  portions  of 
such  items  have  been  allocated  to  lines  or  subdivisions  for  which  the 
necessary  constitutional  consents  have  not  as  yet  been  obtained ;  and 

Whereas  such  method  of  allocation  was  based  in  part  upon  the 
suggestion  that  under  the  contract  and  certificates  the  Chief  Engineer 
was  required  to  make  in  each  determination  a  definite  and  final  alloca- 
tion of  such  items  despite  the  fact  that  all  allocations  of  such  items 
are  necessarily  subject  to  readjustment  because  of  changing  conditions 
arising  out  of  the  prosecution  of  the  work  under  said  contract  and 
certificates ;   and 

Whereas,  the  Commission  and  the  Railway  Corporation  recognise 
the  right  of  the  Chief  Engineer  under  said  contract  and  certificates  to 
allocate  such  items  in  proper  proportionate  parts  to  various  lines  and 
subdivisions  for  which  the  necessary  constitutional  consents  shall 
have  been  obtained  and  thereafter,  from  time  to  time,  to  reallocate 
such  items  or  portions  thereof  as  may  be  necessary,  so  that  as  soon 
as  practicable  there  shall  be  allocated  to  each  line  and  subdivision 
its  proper  proportionate  part  of  such  items  upon  the  basis  of  the  rela- 
tive cost  applicable  to  such  line  or  subdivision  to  the  cost  applicable 
to  the  other  lines  and  subdivisions  as  contemplated  in  said  contract 
and  certificates:  and 


Whereas,  the  Chief  Engineer  has  expressed  his  willingness  to  with- 
draw such  determinations  upon  the  request  of  the  Commission  and  the 
Railway  Corporation;  and 

Whereas,  the  Commission  and  the  Railway  Corporation  construe 
the  contract  and  certificates  as  giving  such  right  of  allocation  and 
reallocation  to  the  Chief  Engineer  and  enter  into  this  stipulation  not 
for  the  purpose  of  varying  or  modifying  any  of  the  provisions  of  such 
contract  and  certificates  but  for  the  purpose  of  regulating  matters  of 
detail  thereunder  and  to  avoid  possible  future  misunderstandings. 

■     Now    Therefore,    the   Commission   and    the   Railway    Corporation 
hereby  stipulate  and  agree  as  follows : 

First:  The  Commission  and  the  Railway  Corporation  hereby  ex- 
pressly recognize  and  confirm  the  right  of  the  Chief  Engineer  under  said 
contract  and  certificates  to  allocate  in  proper  proportionate  parts  to  the 
various  lines  and  subdivisions  for  which  the  necessary  constitutional  con- 
sents shall  have  been  obtained  all  such  items  of  cost  as  are  not  suscep- 
tible of  specific  allocation,  and  thereafter,  from  time  to  time,  to  reallo- 
cate such  items  in  whole  or  in  part  as  may  be  necessary,  so  that  as  soon 
as  practicable  there  shall  be  finally  allocated  to  each  such  line  and 
subdivision  no  more  and  no  less  than  its  proper  proportionate  part  of 
such  items  upon  the  basis  of  the  relative  cost  applicable  to  said  line 
or  subdivision  to  the  cost  applicable  to  the  other  lines  and  subdivisions 
as  contemplated  in  said  contract  and  certificates. 

Second:  In  the  case  of  lines  or  subdivisions  for  which  the  neces- 
sary constitutional  consents  have  not  at  the  time  of  rendering  any 
determination  been  obtained,  the  Chief  Engineer  may  allocate  the  pro- 
portionate part  of  such  items  that  otherwise  would  be  allocable  to  such 
lines  or  subdivisions,  to  other  lines  or  subdivisions  for  which  the  neces- 
sary constitutional  consents  have  been  obtained;  and  thereafter,  when 
and  as  the  necessary  constitutional  consents  are  obtained,  the  Chief 
Engineer  may  transfer  the  amounts  so  allocated  from  the  lines  or 
subdivisions  to  which  they  have  been  allocated  to  the  line  or  subdi; 
vision  for  which  such  consents  shall  have  been  obtained,  so  that  each 
line  or  subdivision  will  bear  its  equitable  and  proper  share  of  such 
items.  In  particular  the  Railway  Corporation  agrees  that  the  propor- 
tionate part  of  such  items  that  would  properly  be  allocable  to  addi- 
tional tracks  and  extensions  (if  such  consents  had  been  obtained  there- 
for) may  be  allocated  temporarily  to  Reconstruction  of  Existing  Rail- 
roads for  Initial  Operation,  and  that  when  and  as  the  necessary  con- 
stitutional consents  are  obtained  for  any  additional  tracks  or  extensions 
the  Chief  Engineer  may  transfer  from  Reconstruction  of  Existing 
Railroads  for  Initial  Operation  to  the  additional  tracks  or  extensions 
for  which  such  consents  shall  have  been  obtained  the  amounts  which 
otherwise  would  have  been  allocated  thereto  in  the  first  Instance. 

Third:  The  Chief  Engineer  may  withdraw  the  several  determina- 
tions bearing  the  date  the  14th  day  of  October,  1913,  such  withdrawal  to 
have  the  same  force  and  effect  as  though  such  determinations  had  not 
been  rendered. 

8 


Fourth:  The  time  of  the  Chief  Engineer  to  render  the  determina- 
tions of  cost  of  construction,  cost  of  equipment,  actual  cost  of  plant 
and  structure  and  actual  cost  of  equipment  paid  or  accrued  prior  to 
March  19,  1913,  is  hereby  extended  to  and  Including  the  25th  day  of 
November,  1913. 

Fifth:  This  stipulation  shall  be  without  prejudice  to  any  right 
of  the  Commission  or  of  the  Railway  Corporation  under  said  contract 
or  certificates  to  object  to  any  determinations  of  the  Chief  Engineer. 

Sixth:  This  stipulation  shall  not  apply  to  items  of  cost  susceptible 
of  specific  allocation,  the  intention  being  that  the  Chief  Engineer  shall 
allocate  all  such  items  as  are  susceptible  of  specific  allocation  to  the 
particular  lines  or  subdivisions  to  which  they  shall  respectively  belong. 

Seventh:  This  stipulation  shall  continue  in  force  and  effect  until 
the  beginning  of  Initial  Operation  under  said  contract. 

In  Witness  Whereof  the  Commission  has  caused  Its  oflficial  seal 
to  be  hereto  affixed  and  attested  by  its  Secretary  and  this  stipulation 
to  be  signed  by  its  Chairman,  and  the  Railway  Corporation  has  caused 
its  corporate  seal  to  be  hereto  affixed  and  attested  by  its  Secretary 
and  this  stipulation  to  be  signed  by  its  President,  all  the  day  and  year 
first  above  written. 

PUBLIC  SERVICE  COMMISSION  FOR  THE  FIRST 
DISTRICT, 

[SEAL  OF  THE  by  Edwabd  E.  McCall, 

COMMISSION]  Chairman. 

Attest : 

Travis  H.  Whitney, 

Secretary. 

NEW    YORK   MUNICIPAL   RAILWAY   CORPORA- 
TION, 

[SEAL  OF  THE  RAIL-  by   T.    S.   WiLLIAMS, 

WAY  CORPORATION]  President. 

Attest : 

t\.A.  Bullock, 

Secretary. 


In  tiie  Matter 


yiO, 


OF  THE 

Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  contract, 
dated  JMarch  19,  1913,  between  The 
City  of  New  York,  acting  by  the  Pub- 
lic Service  Commission  for  the  First 
District,  and  New  York  Municipal 
Railway  Corporation,  of  the  cost  of 
construction  and  cost  of  equipment  of 
the  Railroad  paid  or  accrued  prior  to 
March  19,  1913. 


Prior  Determination 

''Railroad" 

October  14,  1913. 


In  the  Matter 


OF  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for  . 
the  First  District  under  the  contract,  \ 
dated  March  19,   1913,   between  the  ; 
City  of  New  York,  acting  by  the  Pub- 
lic Sersdce  Commission  for  the  First 
District,    and   New  York   Municipal 
Railway  Corporation,  of  the  cost  of 
Reconstruction  of  Existing  liailroads, 
paid  or  accrued  i)rior  to  March  19, 
1913. 


Prior  Determination 

''Reconstruction  of 

Existing   Railroads.  ' ' 


October  U,  1913.^  > 


or ' 


,^  ^'^ 


N.  Y.  M.— E.  D.  Prior  A— 1 ,500-0.  '13  (N)  N.  Y.  M.— E.  D.  Prior  B— 1.60CW),  '13  (N) 


To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  Contract  4  and  the 
certificates  related  thereto,  under  this  date  I  am  ren- 
dering in  detail  my  determinations  of  the  costs  paid  or 
accrued  prior  to  March  19,  1913,  separately  with 
respect  to  Contract  4  and  each  certificate. 

These  determinations,  summarized,  are  for 

Contract  4 — Railroad: 
Cost  of  Construction     ------  $34,185,324.24 

Cost  of  Equipment        ------  784,488.82 

Total  Cost  of  the  Railroad     -     -     -     -  $34,969,813.06 

Contract  4 — Reconstruction  of  Existing  Railroads: 
Cost  of  Construction     ------        $392,244.39 

Cost  of  Equipment        ------  130,748.13 

Total  Cost  of  Reconstruction  of  Exist- 
ing Railroads     ---.----        $522,992.52 

Total  Cost  of  Contract  4  -     -     -     -     -  $35,492,805.58 

Certificate  for  Additional  Tracks: 
Actual  Cost  of  Plant  and  Structure      -        $261,676.11 
Actual  Cost  of  Equipment      -     -     -     -  

Actual  Cost  of  Plant  and  Property       -        $261,676.11 

Certificate  for  Elevated  Extensions: 
Actual  Cost  of  Plant  and  Structure      -        $196,257.08 
Actual  Cost  of  Equipment      -     -     -     -  196,257.09 

Actual  Cost  of  Plant  and  Property       -        $392,514.17 
Total  for  Municipal  Railway  Corpora- 
tion, Contract  4  and  Certificates  -  $36,146,995.86 

Dated  New  York, 

October  14,  1913. 

ALFRED   CRAVEN, 

Chief  Engineer 
Public  Service  Commission  for  the  First  District. 


In  the  Matter 


OF  THE 

Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  contract, 
dated  March  19,  1913,  between  The 
City  of  New  York,  acting  by  the  Pub- 
lic Service  Commission  for  the  First 
District,  and  New  York  Municipal 
Railway  Corporation,  of  the  cost  of 
construction  and  cost  of  equipment  of 
the  Railroad  paid  or  accrued  prior  to 
March  19,  1913. 


Prior  Determination 

*' Railroad" 

October  14,  1913. 


To  the 

Public  Service  Commission  for  the  First  District,  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  the  contract  dated  March  19, 
1913,  between  The  City  of  New  York,  acting  by  the  Public  Ser- 
vice Commission  of  the  First  District,  and  New  York  Municipal 
Kailway  Corporation,  know^n  as  Contract  No.  4,  and  in  accord- 
ance with  the  terms  of  Article  XXIX  thereof,  I  hereby  render 
my  determination  of  the  ''Cost  of  Construction"  and  the  "Cost 
of  Equipment"  of  the  Railroad  paid  or  accrued  prior  to  March 
19,  1913. 

For  the  Railroad, 

The  Cost  of  Construction  (Article  II,  Subdivision  14)  is  as 
follows : 

(1 )  Labor  and  materials $25,406,350.87 

(2)  Real  estate  2,607,748.59 

(3)  Debt  discount  and  expense 7,845.04 

(4)  City's  expenses  for  superintendence,  etc 2,226,301.25 

(5)  Lessee's  expenses  for  superintendence,  etc. . . .  46,071.06 

(6)  Taxes 250.00 

(7 )  Interest 3,890,757.43 

Total $34,185,324.24 

The  Cost  of  Equipment  for  Initial  Operation  (Article  II, 
Subdivision  15)  is  as  follows: 

(1)  Labor  and  materials 

(2)  Real  estate  

(3)  Debt  discount  and  expense $9,414.05 

(4)  Superintendence,  etc 55,285.27 

(5)  Taxes 300.00 

(6)  Interest  719,489.50 

Total $784,488.82 

Total  Cost  of  Construction  and  Cost  of  Equipment  $34,969,813.06 

3 


Each  of  the  seven  parts  of  the  Cost  of  Construction  and  the 
six  parts  of  the  Cost  of  Equipment  is  taken  up  hereafter  in 
its  order.  They  are  shown  as  appHed  to  the  several  portions, 
or  hues,  of  the  Railroad.  The  City's  share  and  the  Lessee's  con- 
tribution to  Cost  of  Construction  are  shown  separately,  and 
represent  actual  expenditures  chargeable  to  the  respective  lines, 
and  the  sum  of  the  City's  share  and  the  Lessee's  contribution 
as  tabulated  above  represents  the  actual  and  necessary  cost. 

It  is  necessary  to  keep  separate  the  City's  share  and  the 
Lessee's  contribution  as  to  parts  of  the  Railroad  in  order  to 
provide  a  basis  for  computing  deductions  from  revenue  in  the 
case  of  temporary  operation  (Article  XLIX,  Subdivision  7,  and 
Article  LII).  It  is  also  necessary  to  separate  the  cost  of  con- 
struction and  cost  of  equipment  into  lines  of  the  Railroad  to 
accord  with  the  provisions  of  the  contract  relative  to  recaption. 

The  records  of  costs,  from  which  this  determination  is  made, 
are  kept  in  such  detail  that  the  cost  of  any  principal  part  of  the 
Railroad  may  be  identified  so  that  in  case  of  its  retirement  or 
withdrawal  from  service,  the  said  cost  may  be  withdrawn  from 
the  appropriate  depreciation  fund  as  provided  under  Article 
XLIX,  Subdivision  5.  A  summary  of  these  records  is  given  in 
an  appendix.  The  Uniform  System  of  Accounts  as  prescribed 
by  the  Public  Service  Commission  is  followed  for  this  purpose. 


COST    OF    CONSTRUCTION 

Labor  and  ' '  ( 1 )   The    actual   and   necessary   net 

materials.  cost  in  money  of  all  labor  and  materials 

entering  into  Construction."  Section  11 
of  Article  II  says:  ''The  word  'Construction'  to  mean 
all  work  of  constructing  the  Railroad  including  the  doing 
of  work,  the  providing  of  materials,  the  restoration  and 
reconstruction  of  street  surfaces,  sewers,  and  all  surface, 
subsurface  and  overhead  and  abutting  structures  inter- 
fered with  during  the  building  of  the  Railroad  and  all 
other  work  to  be  done  or  materials  to  be  furnished  of 
every  nature  whatsoever  necessary  to  the  completion  of 
the  railroad  structure,  all  tracks  (meaning  thereby  the 
track  structure  complete,  including  all  ballast,  ties,  con- 
crete, rails,  special  work,  spikes,  joints,  bolts,  tie  plates, 
and  all  other  material  or  apparatus  necessary  to  build  the 
track,  but  not  including  electrical  or  signal  material  or 
apparatus),  together  with  all  real  estate  and  interests 
therein  necessary  to  be  acquired  or  extinguished  for  the 
purpose  of  constructing  and  operating  the  Railroad." 

The  cost  of 

(1)   Labor  and  materials  for  such  specified  portions,  or  lines, 
of  the  Railroad  is  as  follows : 

Lessee 's 
City's  Share    Contribution         Total 
(I)   B 'way -Fourth 

Ave.  Line.... $25,352,089.24    $54,261.63*   $25,406,350.87 
(II)    Culver  Line    .  . 

(III)   Fourteenth  St.- 

Eastern  Line         


Total  cost  for  Labor 
and  materials  pur- 
suant to  the  con- 
tract for  the  period 
prior  to  March  19, 
1913 $25,352,089.24    $54,261.63    $25,406,350.87 


*NoTE. — Certified  estimates  for  work  done  under  modifying-  agreement  on 
Construction  Contract  for  Route  5,  Sec.  3,  which  amount,  pursuant  to  Art.  XI 
of  Contract  4,  is  payable  by  the  Lessee  as  Cost  of  Canal  Street  physical 
connection. 

(For  details,  see  pp.  16  to  34  post.) 

5 


Real  estate.  ''(2)   The   actual   and  necessary  net 

cost  in  money  of  any  real  estate  or  interest 
therein  acquired  or  extinguished  for  Construction,  in- 
eluding  terminals,  storage  yards  and  shops,  together  with 
the  actual  and  necessary  expense  in  connection  with  such 
acquisition  or  extinction,  but  there  shall  not  be  included 
in  the  term  'real  estate  or  interest  therein'  any  damages 
the  City  may  have  to  pay  for  acquiring  rights  or  ease- 
ments for  the  Railroad  in  streets  under  the  principles  of 
the  decision  in  Matter  of  Board  of  Rapid  Transit  Rail- 
road Commissioners  (Joralemon  Street),  197  N.  Y.  81. 
There  shall  be  included,  however,  damages  the  City  may 
have  to  pay  for  extinguishing  rights  of  light,  air  and 
access  in  connection  with  the  construction  of  the  elevated 
portions  of  the  Railroad. " 

The  cost  of 

(2)  Real  estate  for  such  specified  portions,  or  lines,  of  the 
Railroad  is  as  follows : 

Lessee 's 
City's  Share    Contribution         Total 
(I)  B'way  -  Fourth 

Ave.  Line...  $2,607,748.59  — $2,607,748.59 

(II)  Culver  Line. .  . .  

(III)   Fourteenth  St.- 

Eastern  Line.         


Total  cost  for  real  es- 
tate pursuant  to 
the  Contract  prior 
to  March  19,  1913.    $2,607,748.59      $2,607,748.59 


(For  details,  see  pp.  34  to  36  post.) 
'      6 


Debt  discount  "(3)   The  debt  discount  and  expense 

and  expense.  in  connection  with  Construction,  pro- 
vided, however,  that  the  debt  discount 
and  expense  (except  in  case  of  Additions) 
shall  not  exceed  an  amovint  equal  to  three  percentum 
(3%)  of  the  part  of  the  cost  of  construction  borne  by  the 
Lessee,  including  the  cost  under  this  paragraph  (3)." 

The  cost  of 

(3)  Debt  discount  and  expense  for  such  specified  portions, 
or  lines,  of  the  Railroad  is  as  follows : 

Lessee 's 
Contribution 

(I)  Broadway-Fourth  Avenue  Line $6,276.03 

(II)   Culver  Line  392.25 

(III)   Fourteenth  St.-Eastern  Line 1,176.76 

Total  cost  for  Debt  discount  and  expense  pursuant 

to  the  Contract,  prior  to  March  19,  1913 $7,845.04 


(For  details,  see  pp.  43  to  45  post.) 

7 


City's  expense  for  ''(4)  The   actual   and  necessary 

superintendence,  etc.  net  cost  in  money  to  the  City  for 
superintendence,  insurance,  damages, 
engineering,  and  legal  expenses  and  administration  in  and 
about  Construction  and  Equipment,  and  in  and  about  the 
plant  and  property  constructed  and  provided  under  the 
certificates  for  extensions  and  additional  tracks  herein- 
before referred  to,  including  in  respect  of  the  cost  of  con- 
struction the  expenses  above  referred  to  in  this  paragraph 
actually  and  necessarily  incurred  or  payable  by  the  City 
in  and  about  the  Construction  and  Equipment  (and  such 
construction  and  provision  of  the  plant  and  property  of 
such  extensions  and  additional  tracks)  prior  to  the  date 
of  this  contract." 

The  cost  of 

(4)  City's  expense  for  superintendence,  etc.,  for  such  specified 
portions  of  the  Railroad  and  about  the  plant  and  property  con- 
structed and  provided  under  certificates  and  also  in  and  about 
the  reconstruction  of  existing  railroads  is  as  follows: 

(I)  Broadway-Fourth  Avenue  Line $2,164,018.01 

(II)  Culver  Line 11,525.33 

(III)  Fourteenth  St.-Eastern  Line 40,196.38 

*(IV)  Reconstruction  of  Existing  Railroads 5,280.78 

(V)  Additional  Tracks  provided  under  certificate.  .  2,112.30 
(VI)  Elevated  Extensions  provided  under  certifi- 
cate   3,168.45 

Total  cost  for  City's  expense  for  superintendence, 

etc.,  prior  to  March  19,  1913 $2,226,301.25 

The  above  determination  includes  only  expenditures  of  the  City's  money 
by  the  Public  Service  Commission  for  the  First  District,  and  its  predecessor, 
the  Board  of  Rapid  Transit  Railroad  Commissioners. 


*  Note  :     This  item  is  not  specifically  covered  by  the  definition  above 
quoted.     {See  Appendix.) 


(For  details,  see  pp.  37  to  38  post.j 
8 


Lessee 's  expense  for  ''(5)   The  actual  and  necessary 

superintendence,  etc.  net  cost  in  money  to  the  Lessee  for 
superintendence,  insurance,  dam- 
ages, administration,  engineering  and  legal  expenses  in 
and  about  Construction  including  in  respect  of  the  cost 
of  construction  for  initial  operation  the  expenses  above 
referred  to  in  this  paragraph  actually  and  necessarily 
incurred  or  payable  by  the  Lessee  in  and  about  Con- 
struction prior  to  the  date  of  this  contract  and  in  addi- 
tion the  actual  and  necessary  expense  incurred  or  pay- 
able by  the  Lessee  in  printing,  engraving  and  certifying 
securities  for  Construction  and  the  actual  and  necessary 
('xpense  in  organizing  the  Lessee." 

The  cost  of 

(5)   Lessee's  expense  for  superintendence,  etc.,  for  such  spec- 
ified portions,  or  lines,  of  the  Railroad  is  as  follows : 

Lessee's 
Contribution 

(I)   Broadway-Fourth  Avenue  Line $36,856.85 

r   (II)   Culver  Line  2,303.55 

(III)   Fourteenth  St.-Eastern  Line 6,910.66 

Total  cost  for  Lessee's  expense  for  superintendence, 
etc.,  pursuant  to  the  Contract,  prior  to  March  19, 
^        1913 $46,071.06 


(For  details,  see  pp.  43  to  47  post.) 
9 


Taxes.  "  (6)   Taxes,  assessments  or  other  gov- 

ernmental charges  (including  mortgage 
recording  tax)  of  every  description  against  the  Lessee 
actually  and  necessarily  paid  or  accrued  in  and  about 
Construction  pending  the  beginning  of  operation  of  the 
part  of  the  Railroad  as  to  which  such  taxes,  assessments 
or  other  governmental  charges  were  paid  or  accrued. 
During  operation  such  assessments  for  benefits  as  are  not 
properly  chargeable  against  revenue  shall  be  charged  to 
cost  of  construction." 

The  cost  of 

(6)   Taxes  for  such  specified  portions,  or  lines,  of  the  Rail- 
road is  as  follows: 

Lessee's 
Contribution 

(I)   Broadway-Fourth  Avenue  Line $200.00 

(II)   Culver  Line    12.50 

(III)   Fourteenth  St.-Eastern  Line 37.50 

Total  cost  for  Taxes  pursuant  to  the  Contract,  prior  to 

March  19,  1913 $250.00 


(For  details,  see  pp.  43  to  47  post.) 
10 


Interest.  ''  (7)   Interest  actually  and  necessarily 

paid  or  accrued  on  moneys  provided  by 
the  City  or  by  the  Lessee  or  on  its  behalf  from  time  to 
time  for  the  items  of  this  definition  from  the  respective 
times  of  providing  said  moneys  (but  not  including  interest 
on  any  moneys  provided  by  the  licssee  or  on  its  behalf 
prior  to  October  1,  1912)  to  the  beginning  of  operation 
of  the  part  of  the  Railroad  for  which  such  moneys  were 
provided,  less  any  interest  received  by  the  City  or  by  the 
Lessee  or  on  behalf  of  the  Lessee  on  such  moneys." 

''In  case  any  portion  of  the  cost  of  construction  borne 
by  the  City  shall  be  met  by  other  than  corporate  stock 
or  other  long  term  interest  bearing  securities,  the  same 
shall  be  deemed  to  bear  interest  at  the  rate  specified  in  the 
last  then  preceding  sale  by  the  City  of  corporate  stock  or 
other  long  term  interest  bearing  securities." 

The  cost  of 

(7)   Interest  for  such  specified  portions,  or  lines,  of  the  Rail- 
road is  as  follows : 

City's  Lessee's 

Share        Contribution  Total 

(I)  B'way  -  Fourth 

Ave.  Line...    $3,286,756.62    $479,659.66   $3,766,416.28 


(II)  Culver  Line.  .. 

419.37 

29,978.73 

30,398.10 

(Ill)  Fourteenth  St.- 

Eastern  Line. 

3,671.76 

89,936.18 

93,607.94 

(IV)  Reconstruction 

0  f     Existing 

Railroads .... 

167.55 

167.55 

(V)  Additional 

Tracks 

67.03 

67.03 

(VI)  Elevated  Exten- 

sions   

100.53 

100.53 

Total  cost  for  Interest 

pursuant  to  the  Con- 

tract prior  to  March 

19,  1913 

$3,291,182.86 

$599,574.57 

$3,890,757.43 

(For  details,  see  pp.  38  to  41  and  48  to  49  post.) 
11 


COST   OF    EQUIPMENT 

Debt  discount  ''(3)   The  debt  discount  and  expense 

and  expense.  in  connection  with  Equipment,  provided, 
however,  that  the  debt  discount  and  ex- 
pense (except  in  case  of  Additions)  shall  not  exceed  an 
amount  equal  to  three  per  centum  (3%)  of  the  cost  of 
equipment  for  initial  operation,  including  the  cost  under 
this  paragraph  (3) 


J  ? 


The  cost  of 

(3)   Debt  discount  and  expense  for  such  specified  portions, 
or  lines,  of  the  Railroad  is  as  follows : 

(I)   Broadway-Fourth  Avenue  Line $7,060.53 

(II)   Culver  Line  1,412.11 

(III)   Fourteenth  St.-Eastern  Line 941.41 


Total  cost  for  Debt  discount  and  expense  pursuant 

to  the  Contract,  prior  to  March  19,  1913 $9,414.05 


(For  details,  see  pp.  43  to  47  post.) 
12 


Superintend-  "(4)   The   actual   and   necessary   net 

ence,  etc.  cost  in  money  to  the  Lessee  for  superin- 

tendence, insurance,  damages,  administra- 
tion, engineering  and  legal  expenses  in  and  about  the 
provision  of  the  Equipment,  including  in  respect  of  the 
cost  of  equipment  for  initial  operation  the  expenses  above 
referred  to  in  this  paragraph  actually  and  necessarily 
incurred  or  payable  by  the  Lessee  in  and  about  Equip- 
ment prior  to  the  date  of  this  contract,  and  in  addition 
the  actual  and  necessary  expense  incurred  or  payable  by 
the  Lessee  in  printing,  engraving  and  certifying  securi- 
ties for  Equipment  and  the  actual  and  necessary  expense 
in  organizing  the  Lessee. ' ' 

The  cost  of 

(4)   Superintendence,    etc.,    for  such   specified   portions,    or 
lines,  of  the  Railroad  is  as  follows : 

(I)   Broadway-Fourth  Avenue  Line $41,463.96 

(II)   Culver  Line  8,292.79 

(III)   Fourteenth  St.-Eastern  Line 5,528.52 


Total  cost  for  Superintendence,  etc.,  pursuant  to  the 

Contract,  prior  to  March  19,  1913 $55,285.27 


(For  details,  see  pp.  43  to  47 
13 


Taxes.  ''  (5)   Taxes,  assessments  or  other  gov- 

ernmental charges  (including  mortgage 
recording  tax)  of  every  description  against  the  Lessee 
actually  and  necessarily  paid  or  accrued  in  and  about  the 
provision  of  the  Equipment  pending  the  time  when  the 
portions  of  the  Equipment  as  to  which  such  taxes,  assess- 
ments or  other  governmental  charges  were  paid  or  ac- 
crued are  placed  in  operation.  During  operation  such 
assessments  for  benefits  as  are  not  properly  chargeable 
against  revenue  shall  be  charged  to  cost  of  equipment." 

The  cost  of 

(5)   Taxes  for  such  specified  portions,  or  lines,  of  the  Rail- 
road, is  as  follows : 

(I)  Broadway-Fourth  Avenue  Line $225.00 

(II)   Culver  Line    45.00 

(III)  Fourteenth  St.-Eastern  Line 30.00 

Total  cost  for  Taxes  pursuant  to  the  Contract,  prior 

to  March  19,  1913 $300.00 


(For  details,  see  pp.  43  to  47  post.) 
14 


Interest.  ''  (6)  Interest  actually  and  necessarily  paid 

or  accrued  on  moneys  provided  by  the  Lessee  or 
on  its  behalf  from  time  to  time  for  the  items  of  this  defini- 
tion from  the  respective  times  of  providing  said  moneys 
(but  not  including  interest  on  any  moneys  provided  by 
the  Lessee  or  on  its  behalf  prior  to  October  1,  1912)  to 
the  beginning  of  operation  of  the  part  of  the  Equipment 
for  which  such  moneys  were  provided,  less  any  interest 
received  by  the  Lessee  or  on  its  behalf  on  such  moneys." 

The  cost  of 

(6)   Interest  for  such  specified  portions,  or  lines,  of  the  Rail- 
road is  as  follows : 

(I)  Broadway-Fourth  Avenue  Line $539,617.12 

(II)   Culver  Line 107,923.43 

(III)  Fourteenth  St.-Eastern  Line 71,948.95 

Total  cost  for  Interest  pursuant  to  the  Contract,  prior 

to  March  19,  1913 $719,489.50 


(For  details,  see  pp.  48  to  49  post ) 
15 


APPENDICES  EXPLANATORY  OF  THE  ABOVE 
DETERMINATIONS. 

Labor  and  ''Labor  and  materials"  means  the  cost  of  con- 

materials,  striicting  the  Railroad  by  sections  under  the  sev- 

eral construction  contracts  which  have  either 
been  entered  into  or  may  be  entered  into  from  time  to  time. 
These  construction  contracts  cover  the  prosecution  of  the  con- 
struction work  and  payment  therefor.  Each  month  the  various 
contractors  executing  the  contracts  are  paid  upon  the  basis  of 
monthly  estimates  certified  to  by  me.  The  aggregate  of  these 
monthly  estimates  represents  the  cost  of  labor,  and  materials 
entering  into  construction.  These  monthly  estimates  are  cus- 
tomarily made  as  of  the  last  day  of  the  month  and  cover  the 
cost  of  construction  as  of  such  date.  The  estimates  are  identified 
by  numbers,  which  indicate  the  serial  order  in  which  such  esti- 
mates have  been  made. 

Article  XXIX  requires  the  Chief  Engineer  to  determine  the 
cost  of  construction  paid  or  accrued  prior  to  the  date  of  the 
contract.  Therefore,  this  covers  the  cost  to  and  including 
March  18,  1913.  For  this  reason  it  has  been  assumed  that 
18/31sts  of  the  March  construction  contract  regular  estimates 
accrued  prior  to  March  19,  1913,  leaving  13/31sts  of  such  certi- 
fied estimates  to  be  entered  into  the  cost  of  construction  for  the 
first  quarterly  determination.  This  is  the  most  satisfactory 
method  of  dividing  the  labor  and  material  costs  for  March  as 
between  the  prior  determination  and  the  quarterly  determination. 

Since  the  labor  and^  material  is  based  upon  the  section 
contract  for  construction,  as  already  explained,  it  has  been 
considered  advisable  to  subdivide  the  labor  and  material  deter- 
mination by  sections.  Also  a  certain  arnount  of  subdivision 
IS  desirable  so  that  if  the  Commission  should  declare  any  part 
of  the  Railroad  ready  for  operation,  as  provided  under  Article 
LII  of  the  contract,  the  cost  of  such  part  to  be  used  as  a  basis 
for  the  distribution  of  revenue  could  be  readily  determined. 
Exactly  what  parts  might  be  declared  ready  for  operation  it  is 
hardly  feasible  to  say  at  this  time.  The  construction  contract 
is  a  reasonable  unit  to  keep  identified  so  that  any  combination 
may  be  made  as  required.     Therefore, 

(1)  The  cost  of  labor  and  material  as  included  in  this 
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33 


The  Roman  figures   under  the   column   ''Certified  Under" 
refer  to  article  numbers  in  the  construction  contracts.     Article 

XI  covers  work  susceptible  of  classification  which  is  certified 
to  under  the  regular  estimates  at  the  regular  unit  prices.     Article 

XII  covers  work  not  susceptible  of  classification  for  which  special 
estimates  are  made.  The  words  ''regular"  and  "extra"  are 
used  (in  the  column  "Certified  Under")  in  the  case  of  the  older 
construction  contracts.  These  were  let  on  terms  different 
from  the  newer  ones  in  that  the  contract  was  for  a 
lump  sum  subject  to  modification  as  in  the  respective  contracts 
provided.  "Regular"  refers  to  payments  made  of  the  lump 
sum  value  of  the  contract  and  the  monthly  payments  are  made 
relative  to  the  said  contract  value  of  the  entire  work.  "Extra" 
refers  to  payments  made  for  the  work  done  under  modification 
of  the  respective  contracts.  All  "regular"  estimates  and  esti- 
mates for  "extra"  work  submitted  regularly  (the  older  con- 
struction contracts)  are  included  in  the  determination  as  ac- 
cruing on  the  last  day  of  the  month  which  they  cover.  Special 
estimates  covering  scattered  work  prosecuted  at  various  times 
are  considered  as  having  accrued  on  the  date  on  which  the  esti- 
mate is  certified. 

The  detailed  plans  for  construction  of  some  of  the  older  sec- 
tion contracts  provide  for  pipe  galleries,  and  separate  contracts 
for  such  galleries  accompanied  the  contracts  for  construction  of 
the  railroad.  The  definition  of  construction  covers  the  restora- 
tion and  reconstruction  of  street  surfaces,  sewers  and  of  surface, 
subsurface  and  overhead  and  abutting  structures  interfered  with 
in  the  building  of  the  railroad,  and  all  other  work  to  be  done  or 
materials  to  be  furnished  of  every  nature  whatsoever,  necessary 
to  the  completion  of  the  railroad  structure  (Chapter  II  of  said 
construction  contract).  The  cost  of  pipe  galleries  does  not  come 
within  this  definition  and  is  therefore  not  included  in  the  deter- 
mination. 

Real  estate.  "Real  estate"  means,  as  represented  by  the 

amounts  which  have  entered  into  this  determina- 
tion, the  disbursements  as  reported  by  the  Auditor  of  the  Public 
Service  Commission,  covering  the  following  necessary  expendi- 
tures in  the  acquisition  of  properties,  easements,  and  leases : 

Compensation  of  Commissioners  of  appraisal,  consulting 
engineers,  experts  of  appraisal  of  lands,  buildings,  machinery, 
etc. ;  clerical,  stenographic  and  photographic  services  rendered  to 

34 


the  commissioners  of  appraisal,  printing  and  supplies  for  the 
same;  advertising  of  notices  of  the  several  authorities;  fees  for 
examining  and  insuring  titles;  payments  and  awards  together 
with  the  credit  of  proceeds  from  the  rental  and  sales  of  buildings 
and  lands. 

As  in  the  case  of  labor  and  materials,  a  certain  amount  of  sub- 
division is  desirable  and  is  given  in  the  following  tabulation: 

(2)  Real  estate  represented  by  City's  expense  as  included  in 
this  determination  for  the  Cost  of  Construction  for  the  period 
prior  to  March  19,  1913,  is  as  follows : 


35 


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5549,958. 

8,954. 

26,161. 

,586,756. 

819.230, 

2^:^:3^ 


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36 


City's  expenses  The  City's  expenses  for  superintendence, 

for  superintendence,  etc.,  means,  as  represented  by  the  amounts 
which  have  entered  into  this  determination 
a  portion  of  the  payroll  of  the  Engineering  Department,  determined 
partly  from  the  time  records  as  being  chargeable  to  cost  of  con- 
struction and  partly  from  other  information  available  in  the  files 
of  the  Chief  Engineer's  office;  also  a  portion  of  the  payrolls  of 
the  Secretary's  office  and  the  other  departments  of  the  Com- 
mission, estimated  as  being  chargeable  to  this  work;  also  employes' 
disbursements;  stationery,  supplies  and  printing;  rental;  tele- 
phone and  telegraph ;  furniture  and  fixtures;  instrument  supplies; 
maps,  plans,  prints  and  photo  supplies,  etc.  It  includes  also 
the  cost  of  test  borings.  A  proportion  of  these  disbursements 
other  than  salaries  was  charged  to  the  several  lines  on  the  basis 
of  the  salary  charges. 

Besides  the  expenditures  mentioned  in  the  preceding  paragraph 
as  made  by  the  Public  Service  Commission  there  has  been  added 
the  value  of  the  work  done  by  the  Board  of  Rapid  Transit  Railroad 
Commissioners  prior  to  July  1st,  1907,  so  far  as  such  work  has 
been  incorporated  in  the  Dual  System.  This  work  consists  of 
base  lines,  bench  levels,  surface  topography  (field  and  office  work), 
sub-surface  topography  including  cross-sections  (field  and  office 
work),  test  borings,  administrative  and  legal  expenses,  rent, 
supplies,  etc.  It  includes  designs  for  the  Centre  Street  Loop 
and  the  Fourth  Avenue  Brooklyn  Subway. 

The  expenditures  by  the  Public  Service  Commission  during 
the  years  1907  to  1910  inclusive  were  for  the  most  part  taken 
from  the  records  made  for  the  purpose  of  the  legislative  report 
known  as  the  Carlisle  investigation.  Of  the  Tri-Borough  Route 
there  reported,  29  per  cent,  is  incorporated  in  the  Broadway- 
Fourth  Avenue  Line.  The  Brooklyn  Loop  Line  and  the  Fourth 
Avenue  subway  were  taken  in  their  entirety.  To  these  costs 
has  been  added  a  proper  percentage  of  rent,  supplies,  of  the 
Engineering  Department  and  of  administrative  and  legal  ex- 
penses, etc. 

For  the  year  1911  the  charges  to  each  line  were  arrived  at  by 
estimation. 

During  the  year  1912,  from  January  to  May  inclusive,  the 
charges  of  the  Engineering  Department  to  the  respective  lines 
were  arrived  at  by  estimation;  for  June  to  December  inclusive 
the  charges  are  the  result  of  records  made  up  from  time  reports 
as  to  the  field  divisions  and  from  partial  time  reports  as  to  the 

37 


designs  division.  An  estimated  amount  was  added  for  the  Legal 
and  other  departments  of  the  Commission. 

For  the  year  1913  up  to  March  18th  same  conditions  ruled 
as  for  June  to  December,  1912. 

Although  the  item  for  the  Reconstruction  of  Existing  Railroads 
(IV)  is  not  specifically  included  in  ''City's  Expenses  for  Super- 
intendence, etc./'  under  the  Cost  of  Construction  of  the  Railroad, 
its  determination  is  provided  for  in  Article  XIII  of  Contract  4. 

Interest  on  moneys  Interest  on  moneys  provided  by  the 

provided  by  the  City.  City  has  been  computed  in  four  parts : 
First,  interest  actually  paid  on  corporate 
stock  and  notes,  less  credit  of  interest  on  bank  balances;  Second, 
interest  computed  on  corporate  stock  interest  ''deemed  to  bear 
interest  at  the  rate  specified  in  the  last  then  preceding  sale  by  the 
City  of  corporate  stock";  Third,  interest  on  City's  expenses  for 
superintendence,  etc.,  "deemed  to  bear  interest  at  the  rate 
specified  in  the  last  then  preceding  sale  by  the  City  of  corporate 
stock";  Fourth,  credit  of  interest  computed  on  proceeds  received 
from  the  sale  and  from  the  use  of  real  estate,  "deemed  to  bear 
interest  at  the  rate  specified  in  the  last  then  preceding  sale  by 
the  City  of  corporate  stock." 

The  interest  actually  paid  on  corporate  stock  has  been  reported 
to  the  Public  Service  Commission  by  the  Comptroller  in  a  statement 
under  date  of  September  30th,  1913,  which  gives  details  of  moneys 
provided  for  the  Centre  Street  Loop  Lines,  for  the  Fourth  Avenue 
subway  and  for  the  Broadway-Lexington  Avenue  Route.  This 
statement  gives  the  amounts  provided  by  notes  prior  to  the  sale  of 
corporate  stock  and  that  provided  by  the  sale  of  corporate  stock 
with  the  dates  thereof,  the  total  interest  payable  at  the  several 
interest  dates  and  the  credit  of  interest  on  bank  balances,  also 
the  allotments  as  the  money  was  used. 

•  It  was  necessary  to  divide  the  interest  of  the  Broadway- 
Lexington  Avenue  Route  into  three  portions;  First,  That  portion 
embodied  in  the  Broadway-Fourth  Avenue  Line ;  Second,  That  por- 
tion included  in  the  Lexington  Avenue  branch  of  the  Seventh  Ave- 
nue-Lexington Avenue  Line;  Third,  That  portion  involved  by  con- 
tract section  6  of  Route  5,  which  is  not  a  part  of  the  Dual  System. 
To  do  this  the  following  assumption  was  made.  The  interest 
on  the  total  of  the  allotted  amounts  at  each  interest  date  was 
divided  on  the  basis  of  the  total  monthly  estimates  to  each 
respective  date.     The  following  are  the  ratios  used: 

38 


To  To  To  To 

Mar.  1,  Sept.  1,  Mar.  1,  Mar.  18, 

Line                    1912  1912  1913  1913 

Per  Cent.  Per  Cent.  Per  Cent.  Per  Cent. 
Broadway  -  Fourth 

Avenue 0.33  15.79  24.31  24.31 

Lexington      Avenue 

Branch 81.91  79.57  73.74  73.74 

Ehminated 17.76  4.64  1.95  1.95 

100.00         100.00         100.00         100.00 

Interest  on  unallotted  amounts  was  assumed  to  be  chargeable 
proportionately  to  the  sum  of  the  contract  value  of  each  contract 
section,  divided  by  the  number  of  months  required  to  complete, 
giving  the  following  ratios;   applied  up  to  June  1st,  1912: 

Per  Cent. 

Broadway-Fourth  Avenue  Line 15.93 

Lexington  Avenue  Branch 72 .  37 

Eliminated ■ 11.70 

100.00 

For  the  period  subsequent  to  June  1st,  1912,  we  get 

Broadway-Fourth  Avenue  Line 18 .  05 

Lexington  Avenue  Branch 81 .  95 

Eliminated 

100.00 

Before  applying  these  ratios  the  interest  chargeable  on  ex- 
penditures for  real  estate  was  deducted.  The  application  of 
the  above  ratios  gives  an  interest  charge  to  the  Broadway- 
Fourth  Avenue  Line,  as  follows: 

Broadway  Portion  of  Broadway-Lexington  Avenue 

Route,  Corporate  Stock  Interest 

TO  March  19,  1913. 

Corporate  Stock  Interest  actually  paid  or  accrued .  .      $68,347 .  83 
Interest  on  same  at  4i  per  cent 524 .  57 


Total    Interest    Chargeable    to    Cost    of    Con- 
struction       $68,872.40 

39 


It  was  necessary  to  reduce  the  interest  reported  by  the  Comp- 
troller as  paid  on  account  of  the  Centre  Street  Loop  Lines  by 
an  amount  chargeable  to  the  construction  of  pipe  galleries.  To 
do  this  the  ratio  of  expenditures  to  March  19th  on  pipe  galleries 
to  the  total  expenditures  on  railroad  and  pipe  galleries  was  applied 
to  the  total  interest  charge.  The  ratio  was  1.92  per  cent. 
Before  applying  this  ratio  deduction  was  made  of  the  interest 
computed  on  payments  made  for  real  estate.  The  following 
table  shows  the  correction: 

Center  Street  Loop-^Interest  to  March  19,  1913 

Corporate  stock  interest 
actually  paid  or  ac- 
crued  $1,744,306.50 

Interest  on  same  at  4} 

per  cent 139,556.87 

• $1,883,863.37 

Interest  on  Real  Estate  ($2,991,062.55) 

(compounded)  at  4i  per  cent.  .  . .      290,253.26    $290,253.26 

$1,593,610.11 
Deduct  1 .  20  per  cent,  for  pipe  galleries       19,123 .  32 

1,574,486.79 

Total  Interest  on  Railroad  and  Real  Estate $1,864,740.05 

Credit  Interest  on  Proceeds  from  Real  Estate 

($753,775.04)  at  4|  per  cent 75,748.33 


Total    Interest    Chargeable    to    Cost    of    Con- 
struction  $1,788,991 .72 


40 


The  same  was  the  case  with  the  Fourth  Avenue,  Brooklyn, 
subway.  The  ratio  in  this  case  was  1 .  20  per  cent.  The  following 
table  shows  the  correction: 

Fourth  Avenue  Subway — Interest  to  March  19,  1913. 

Corporate  Stock  Interest 
actually  paid  or  ac- 
crued  $1,124,399.87 

Interest  on  same  at  4| 

per  cent 43,023.45 

$1,167,423.32  ^ 

Interest  on  Real  Estate  ($386,297.69) 

(compounded)  at  4 J  per  cent 25,831.09 

$25,831.09 

Net   interest   chargeable   to   Railroad 

and  pipe  galleries $1,141,592.23 

Deduct   1.92  per  cent,  for  pipe  gal- 
leries         21,918.57 

1,119,673.66 


Total  Interest  on  Railroad  and  Real  Estate $1,145,504.75 

Credit  Interest  on  Proceeds  from  Real  Estate 

($15,836.61)  at  4i  per  cent 1,580.56 


Net  Interest  Chargeable  to  Cost  of  Construction.$l,  143,924. 19 

Moneys  provided  by  other  than  corporate  stock  or  corporate 
stock  notes  is  "deemed  to  bear  interest  at  the  rate  specified  in 
the  last  then  preceding  sale  by  the  City  of  corporate  stock  or 
other  long  term  interest  bearing  securities."  The  ruling  rate 
from  1910  to  date  has  been  4i  per  cent.  The  rate  of  interest 
on  corporate  stock  sold  prior  to  1910  averaged  very  close  to  4i 
per  cent.,  and  the  same  rate  of  4i  per  cent,  therefore  has  been 
applied  to  all  disbursements.  Inasmuch  as  the  exact  date  of  the 
disbursements  for  City's  expenses  for  superintendence  on  which 
interest  has  been  computed  is  not  known,  it  has  been  assumed 
that  the  expenditures  for  six  months,  as  July  1st  to  December 
31st  inclusive,  were  made  at  the  middle  day  of  the  period,  that 
is,  September  30th,  and  interest  has  been  computed  from  such 
date. 

A  summary  of  all  interest  on  moneys  provided  by  the  City 
follows : 

41 


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42 


Lessee's  When  there  are  expenditures  of  an  executive 

expenditures       and  administrative  nature  it  is  impossible  to  al- 
generally.  locate  them  to  specific  construction  work.    Such 

expenditures  made  by  the  New  York  Municipal 
Railway  Corporation  prior  to  the  date  of  the  contract  have  been 
distributed  among  the  several  lines  affected  in  each  particular 
case,  on  the  basis  of  relative  estimated  costs.  The  percentages  of 
these  relative  costs  are  given  in  the  tabulation  immediately  fol- 
lowing which  represents  the  understanding  with  respect  thereto 
between  representatives  of  New  York  Municipal  Railway  Cor- 
poration and  myself. 


43 


2  § 


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44 


This  understanding  is  subject  to  modification  by  me  at  any- 
time that  the  facts  indicate  it  should  be  modified.  It  covers  all 
of  the  work  provided  to  be  done  by  the  New  York  Municipal 
Railway  Corporation  under  Contract  No.  4  and  the  related  certi- 
ficates, including  their  contribution  to  the  City's  Railroads. 

The  amounts  appearing  in  this  determination  as  Lessee 's  con- 
tribution to  the  cost  of  construction  and  of  cost  of  equipment 
are  all  of  them  the  result  of  the  application  of  the  above  men- 
tioned percentage  distribution. 

Debt  discount  All  of  the  expenditures  to  cost  of  construc- 

and  expense.      tion  items  (3)  Debt  discount  and  expense,! (5) 
Lessee's  expense  of  superintendence,  (6)  Taxes; 
Lessee 's  and  to  cost  of  equipment  items  (3)  Debt  discount 

expense  for  and  expense,  (4)  Superintendence,  etc.,  (5) 
superintend-  Taxes,  are  represented  by  a  bill  for  ''expendi- 
ence,  etc.  tures  between  February,   1911,  and  March  19, 

1913,  in  and  about  rapid  transit  matters  culmin- 
Taxes.  ating  in  the  contracts  dated  March  19,  1913,  be- 

tween the  City  of  New  York,  by  the  Public  Ser- 
vice Commission  for  the  First  District  and  the  New  York  ]\Tuni- 
cipal  Railway  Corporation — said  expenditures  being  represented 
by  vouchers  submitted  for  inspection  and  examination  and  cover- 
ing preliminary  enginering,  legal  and  administrative  disburse- 
ments, organization  of  the  New  York  Municipal  Railway  Cor- 
poration, printing,  advertising,  engraving,  certification  of  secur- 
ities, etc.,  etc.,  but  not  including  interest  on  moneys  provided" 
for  the  amount  of  $217,114.00,  which  gives  the  following  details ; 


45 


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46 


The  full  amount  of  this  bill  was  distributed  in  accordance 
with  the  understanding  after  having  been  investigated  by  the 
Commission's  Bureau  of  Statistics.  Of  the  ''Organization" 
charges  $1,000.00  is  entered  under  contract  and  certificate  item 
''Taxes/'  the  remainder  under  "Superintendence,  etc."  Of  the 
"Other  Intangible  Capital"  (including  administrative  salaries, 
legal  expenses,  miscellaneous),  and  of  engineering  and  superin- 
tendence, the  full  amount  is  entered  under  "Superintendence, 
etc."  Of  the  "Right  of  Way"  the  full  amount  is  entered  under 
"Real  estate"  and  of  "unamortized  debt  discount  and  ex- 
penses" the  full  amount  is  entered  under  "Debt  discount  and 
expense." 


47 


Interest.  All  of  the  expenditures  to  Lessee's  contribu- 

tion to  cost  of  construction  item  (7)  Interest,  and 
to  cost  of  equipment  item  (6)  Interest,  in  this  determination  are 
represented  by  a  bill  presented  by  the  New  York  Municipal  Rail- 
way Corporation  as  f oIIoays  : 

''85  Clinton  St.,  Brooklyn,  N.  Y., 

March  19,  1913. 
New  York  Municipal  Railway  Corporation, 

To  BROOKLYN  RAPID  TRANSIT  COMPANY,  Dr. 

Comptroller's  Bill  re. 

Month  Mar.,  1913. 
6%   interest   paid  on   $40,000,000.00 
par  value  6  year  5%  notes  sold  for 
your    account    pursuant   to    agree- 
ment of  October  1,  1912,  to  equal 

6%  per  annum  basis ^2,400,000.00 

Discount 409,200.00 

Net  Interest  Payment ! $1,990,800.00 

Interest  paid  on  $40,000,000.00  par 

value  notes — 
October  1, 1912,  to  December  31,  1912.       500,000.00 

Less  3%  on  balances 287,380.00       212,619.20 

Interest  accrued  on  $40,000,000.00  par 

value  notes — 
January  1,  1913,  to  March  19,  1913.. .       433,333.33 

Less  3%  on  balances 241,253.73       192,079.60 

Interest  on  amount  ($212,619.20)  ad- 
vanced December  31,  1913,  to  pay 
January  1,  1913,  Interest  on  notes 
to  March  19,  1913  2,799.49 

$2,398,298.29 


This  bill  was  before  the  Commission  and  was  acted  on  by  them 
under  date  of  June  30,  1913,  in  the  following  resolution : 

"Resolved,  That  the  said  item  of  $2,398,298.29,  being 
the  amount  incurred  by  Brooklyn  Rapid  Transit  Com- 
pany in  behalf  of  New  York  Municipal  Railway  Corpora- 
tion as  set  forth  in  the  above  bill,  be  and  it  hereby  is 
deemed  to  be  interest  actually  and  necessarily  paid  or 
accrued  on  moneys  paid  by  New  York  Municipal  Railway 
Corporation  or  on  its  behalf  from  time  to  time  prior  to 
March  19,  1913,  within  the  term  'interest,'  as  the  same 
is  defined  in  subdivision  7  of  paragraph  14  and  subdivision 
6  of  paragraph  15  of  contract  between  tlie  City  of  New 
York,  by  the  Public  Service  Commission  for  the  First 
District,  with  New  York  Municipal  Railway  Corporation, 
upon  the  express  stipulation  and  condition  that  there  shall 
be  deducted  from  the  cost  of  construction  and  from  the 
cost  of  equipment  an  amount  equal  to  one  per  cent  (1%) 
per  annum,  payable  semi-annually  upon  the  cost  of  such 
construction  and  equipment,  computed  from  the  date  when 
said  construction  or  equipment  is  placed  in  operation  to 
July  1,  1918." 

The  amount  of  this  bill  has  been  distributed  in  accordance 
with  the  said  understanding. 


49 


UNIFORM    SYSTEM    OF    ACCOUNTS 

The  details  of  the  Costs  hereinbefore  set  forth  should  be 
classified  in  accordance  with  the  Uniform  System  of  Accounts 
prescribed  for  street  and  electric  railways  by  the  Public  Service 
Commission  in  its  order  of  December  8,  1908,  as  follows: 

For  the  Railroad. 

The  Cost  of  Construction  is  as  follows :  Lessee 's 

City's  Share.  Contribution. 
Intangihle  Street  Railway  Capital: 

Organization S398.45 

Other  Intangible   Street   Railway 

Capital 29,377.84 

Land : 

Right  of  Way $2,607,748.59  

Road  and  Electric  Line: 

Tunnels 25,352,089.24        54,261.63 

Undistrihuted  Construction  Expenditures: 

Engineering  and  Superintendence. .    1,920,437.46         16,544.77 
Law  expenditures  during  construc- 
tion         106,639.47 

Interest  during  construction 3,291,182.86      599,574.57 

Miscellaneous  construction  expen- 
ditures        199,224.32 

Suspense : 

Unamortized  debt  discount  and  ex- 
pense          7,845.04 

Totals 133,477,321.94    $708,002.30 

Total  Cost  of  Construction $34,185,324.24 

The  Cost  of  Equipment  for  Initial  Operation: 

Intangihle  Street  Railway  Capital: 

Organization    $478.14 

Other  Intangible  Street  Railway  Capital 35,253.40 

Undistrihuted  Construction  Expenditures: 

Engineering  and  Superintendence 19,853.73 

Interest  during  construction   719,489.50 

Suspense: 

Unamortized  debt  discount  and  expense 9,414.05 

Total  Cost  of  Equipment $784,488.82 

Total  Cost  of  Construction  and  Cost  of  Equipment. $34,969,813.06 

50 


These  costs  under  the  Uniform  System  of  Accounts  are  for 
each  hne  of  the  Railroads,  as  follows: 

BROADWAY-FOURTH  AVENUE  LINE 

Lessee's 
^'CosT  OF  Construction":  City's  Share.  Contribution. 

Intangible  Street  Bailway  Capital: 

Organization $318.76 

Other   Intangible   Street   Railway 

Capital 23,502.27 

Land: 

Right  of  Way $2,607,748.59  . 

Road  and  Electric  Line: 

Tunnels 25,352,089.24        54,261.63 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.    1,884,811.68         13,235.82 
Law     expenditures     during     con- 
struction          99,263.70  

Interest  during  construction 3,286,756.62      479,659.66 

Miscellaneous  construction  expen- 
ditures        179,942.63  

Suspense : 

Unamortized    debt    discount    and 

expense 6,276.03 

Totals $33,410,612.46    $577,254.17 

Total  Cost  of  Construction $33,987,866.63 

''Cost  of  Equipment  for  Initial  Operation": 

Intangible  Street  Railway  Capital: 

Organization $358.61 

Other    Intangible    Street    Railway 

Capital 26,440.05 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.         14,890.30 

Interest  during  construction 539,617.12 

Suspense : 

Unamortized    debt    discount    and 

expense 7,060.53 

Total  Cost  of  Equipment $588,366.61 

Total  Cost  of  Construction  and  Cost  of  Equipment. $34,576,233. 24 

51 


CULVER  LINE 

''Cost  of  Construction." 

Lessee 's 
City's  Share.  Contribution. 
Intangible  Street  Bailivay  Capital: 

Organization $19.92 

Other    Intangible    Street    Railway 

Capital 1,468.89 

Undistrib  utecl  Construction  Expenditures : 

Engineering  and  Superintendence.        $6,262.50  827.24 

Law  expenditures  during  con- 
struction   1,125.17  

Interest  during  construction. .....  419.37        29,978.73 

Miscellaneous  construction  expen- 
ditures   4,137.66  

Suspense: 

Unamortized    debt    discount    and 

expense 392.25 

Totals $11,944.70      $32,687.03 

Total  Cost  of  Construction $44,631.73 


"Cost  of  Equipment  for  Initial  Operation": 

Intangible  Street  Railway  Capital: 

Organization    $71.72 

Other  Intangible  Street  Railway  Capital 5,288.01 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 2,978.06 

Interest  during  construction 107,923.43 

Suspense : 

Unamortized  debt  discount  and  expense 1,412.11 

Total  Cost  of  Equipment $117,673.33 

Total  Cost  of  Construction  and  Cost  of  Equipment.  .  .$162,305.06 

52 


14th  STREET-EASTERN  LINE 

''Cost  of  Construction": 

Lessee 's 
City 's  Share.  Contribution. 
Intangible  Street  Railway  Capital: 

Organization $59.77 

Other    Intangible    Street    Railway 

Capital 4,406.68 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.       $24,399.36  2,481.71 

Law  expenditures  during  con- 
struction   4,243.90  

Interest  during  construction 3,671.76        89,936.18 

Miscellaneous  construction  expen- 
ditures          11,553.12  

Suspense : 

Unamortized    debt    discount    and 

expense 1,176.76 


Totals $43,868.14      $98,061.10 

Total  Cost  of  Construction $141,929.24 

"Cost  of  Equipment  for  Initial  Operation": 

Intangible  Street  Railway  Capital: 

Organization $47.81 

Other  Intangible  Street  Railway  Capital 3,525.34 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 1,985.37 

Interest  during  construction 71,948.95 

Suspense : 

Unamortized  debt  discount  and  expense 941.41 


Total  cost  of  Equipment $78,448.88 

Total  Cost  of  Construction  and  Cost  of  Equipment.  .  .$220,378.12 

53 


CITY'S  SUPERINTENDENCE  ON  CERTIFICATE  LINES 

AND   ON   RECONSTRUCTION   OF   EXISTING 

RAILROADS 

*'CosT  OF  Construction": 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence $4,963.92 

Law  expenditures  during  construction 2,006.70 

Interest  during  construction." 335.11 

Miscellaneous  construction  expenditures 3,590.91 

Total  Cost  of  Construction .       $10,896.64 

Pursuant  to  Article  II,  Subdivision  14,  Item  (4),  City's  ex- 
pense for  superintendence  ' '  in  and  about  the  plant  and  property 
constructed  and  provided  under  the  certificates  for  extensions 
and  additional  tracks  hereinbefore  referred  to"  is  included  in 
''Cost  of  Construction." 

The  City's  superintendence  on  Reconstruction  of  Existing 
Railroads  for  Initial  Operation  has  also  been  included. 

Dated  New  York, 

October  14,  1913. 

Alfred  Craven, 

Chief  Engineer  of  the  Public  Service  Commission 

for  the  First  District. 


In  the  Matter 


OP  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  contract, 
dated  March  19,  1913,  between  the 
City  of  New  York,  acting  by  the  Pub- 
lic Service  Commission  for  the  First 
District,  and  New  York  Municipal 
Railway  Corporation,  of  the  cost  of 
Reconstruction  of  Existing  Railroads, 
paid  or  accrued  prior  to  March  19, 
1913. 


Prior  Determination 

''Reconstruction  op 

Existing    Railroads.  ' ' 


October  14,  1913. 


L 


I 


To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railvjay  Corporation: 

Pursuant  to  the  provision  of  the  contract  dated  IMarch  19, 
1913,  between  the  City  of  New  York,  acting  by  the  Public  Ser- 
vice Commission  for  the  First  District,  and  the  New  York  Muni- 
cipal Railway  Corporation,  known  as  Contract  No.  4,  and  in 
accordance  with  the  terms  of  Article  XIII,  I  hereby  render 
my  determination  of  the  Cost  of  Reconstruction  of  Existiiig  Rail- 
roads for  Initial  Operation  for  the  period  prior  to  March  19,  1913. 

Said  Article  XIII  requires  that  the  Cost  of  the  Reconstruc- 
tion of  Existing  Railroads  for  Initial  Operation  shall  be  deter- 
mined by  the  Engineer  in  the  same  manner  as  the  Cost  of  Con- 
struction or  the  Cost  of  Equipment  of  the  Railroad  and  upon 
the  basis  of  the  definitions  of  Construction,  Equipment,  Addi- 
tions, Cost  of  Construction  and  Cost  of  Equipment  *  *  *." 
Therefore  the  Cost  of  the  Reconstruction  of  Existing  Railroads 
for  Initial  Operation  would  seem  to  include  as  to  Construction 
thereof : 

(1)  Labor  and  materials 

(2)  Real  estate 

(3)  Debt  discount  and  expense $4,707.02 

(4)  City's    expense    for    superinten- 

dence, etc * 

(5)  Lessee's  expense  for  superinten- 

dence, etc 27,642.63 

(6)  Taxes 150.00 

(7)  Interest 359,744.74 

^                          Total $392,244.39 

Hknd  as  to  Equipment  thereof: 

Hp  (1)  Labor  and  materials 

m  (2)  Real  estate 

B              (3)  Debt,  discount  and  expense $1,569.01 

■  (4)   Superintendence,  etc 9,214.21 

■  (5)   Taxes 50.00 

B              (6)   Interest 119,914.91 

'  Total $130,748.13 

Total  Cost  of  Construction  and  Cost  of  Equipment.  .$522,992.52 

*  City's  Expense  for  Superintendence,  etc.,  has  been  included  in  Cost  of 
Construction  of  the  Raih'oad. 

3 


Each'  of  these  parts  of  the  Cost  of  Construction  and  of  Equip- 
ment of  the  Eeconstruction  of  Existing  Railroads  for  Initial 
Operation  is  taken  up  hereafter  in  its  order.  They  are  shown 
as  applied  to  the  several  portions,  or  lines,  of  the  Existing  Rail- 
roads, and  represent  actual  expenditures  chargeable  to  the  respec- 
tive lines.  It  is  necessary  to  keep  the  costs  separate  as  to  parts 
of  the  Existing  Railroads  in  order  to  provide  a  basis  for  comput- 
ing deductions  from  revenue  in  the  case  of  temporary  operation 
(Article  XLIX,  Subdivision'?). 

The  records  of  costs,  from  which  this  determination  is  made, 
are  kept  in  such  detail  that  the  cost  of  any  principal  part  of 
the  Existing  Railroads  may  be  identified  so  that  in  case  of  its 
retirement  or  withdrawal  from  service,  the  said  cost  may  be  with- 
drawn from  the  appropriate  depreciation  fund  as  provided  under 
Article  XLIX,  Subdivision  5.  For  this  determination  the  only 
charges  are  of  an  executive  and  administrative  nature.  The 
Uniform  System  of  Accounts  as  prescribed  by  the  Public  Service 
Commission  is  followed  for  this  purpose. 

When  there  are  expenditures  of  an  executive  and  administra- 
tive nature  it  is  impossible  to  allocate  them  to  specific  construction. 
Such  expenditures  made  by  the  New  York  Municipal  Railway 
Corporation  I  have  distributed  among  the  several  lines  affected 
in  each  particular  case  on  the  basis  of  relative  estimated  costs. 
The  percentages  used  are  given  in  a  tabulation  which  represents 
the  understanding  with  respect  thereto  between  representatives 
of  New  York  Municipal  Railway  Corporation  and  myself.  This 
understanding  covers  all  of  the  work  provided  to  be  done  by  the 
New  York  Municipal  Railway  Corporation  under  Contract  No.  4 
and  the  related  certificates  including  their  contribution  to  the 
City's  Railroad,  and  its  terms  are  stated  in  my  determination 
of  Cost  of  Construction  and  Cost  of  Equipment  of  the  Railroad, 
made  under  this  Contract  No.  4.  It  is  subject  to  modification 
by  me  at  any  time  that  the  facts  indicate  that  it  should  be  modified. 
The  application  of  this  percentage  distribution  accounts  for  all 
of  the  items  herein  reported. 


COST  OF  CONSTRUCTION 

Debt  discount  ''(3)  The  debt  discount  and  expense 
and  expense,  in  connection  with  Construction,  provided, 
however,  that  the  debt  discount  and  ex- 
pense (except  in  case  of  Additions)  shall  not  exceed  an 
amount  equal  to  three  per  centum  (3%)  of  the  part  of  the 
cost  of  construction  borne  by  the  Lessee,  including  the  cost 
under  this  paragraph   (3). 

The  cost  of 

(3)  Debt  discount  and  expense  for  the  respective  portions 
of  the  Eeconstruction  of  Existing  Railroads  is  as  follows: 

(I)  Brighton     Beach     Line,     between 

Church  Av.  and  Malbone  St.. .  .        $470.70 

(II)  Brighton  Beach  Line,  between  Nep- 

tune Av.  and  Coney  Island  term.  470.70 

(III)  Sea  Beach  Line.  . /. 1,176.76 

(IV)  Myrtle    Avenue    and    Broadway 
Connection 235.35 

(V)  Lutheran  Cemetery  Line 235.35 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(Vril)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 1,176.76 

(XIII)  Terminals,  Yards  and  Shops.  . .  941.40 


Total  cost  for  debt  discount  and 
expense  pursuant  to  the  Con- 
tract prior  to  March  19,  1913.     $4,707.02 


Lessee's  expense  "  {^)   The  actual  and  necessary  net 

forsuperin-  cost  in  money  to  the  Lessee  for  super- 

tendence,  etc.  intendence,  insurance,  damages,  admin- 

istration, engineering  and  legal  ex- 
penses in  and  about  Construction  including  in  respect  of 
the  cost  of  construction  for  initial  operation  the  expenses 
above  referred  to  in  this  paragraph  actually  and  neces- 
sarily incurred  or  payable  by  the  Lessee  in  and  about 
Construction  prior  to  the  date  of  this  contract  and  in 
addition  the  actual  and  necessary  expense  incurred  or 
payable  by  the  Lessee  in  printing,  engraving  and  certify- 
ing securities  for  Construction  and  the  actual  and  neces- 
sary expense  in  organizing  the  Lessee. ' ' 

The  cost  of 

(5)  Lessee's  expense  for  superintendence,  etc.,  for  the  re- 
spective portions  of  the  Reconstruction  of  Existing  Railroads 
is  as  follows : 

(I)  Brighton    Beach     Line,     between 

Church  Av.  and  Malbone  St $2,764.26 

(II)  Brighton     Beach     Line,     between 
Neptune  Av.  and  Coney  Island  term.       2,764.26 

(III)  Sea  Beach  Line 6,910.66 

(IV)  ]\Iyrtle  Av.  and  B'way  Connection       1,382.13 

(V)  Lutheran   Cemetery  Line 1,382.13 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canaraie  Line — 

(XII)  Coney  Island  Terminal 6,910.67 

(XIII)  Terminals,  Yards  and  Shops..        5,528.52 


Total  cost  for  Lessee's  expense  for 
superintendence,  etc.,  pursuant  to 
the  Contract,  prior  to  March  19, 
1913 $27,642.63 


Taxes.  "(6)   Taxes,   assessments   or  other  govern- 

mental charges  (including  mortgage  record- 
ing tax)  of  every  description  against  the  Lessee  actually 
and  necessarily  paid  or  accrued  in  and  about  Construction 
pending  the  beginning  of  operation  of  the  part  of  the 
Railroad  as  to  which  such  taxes,  assessments  or  other 
governmental  charges  were  paid  or  accrued.  During  op- 
eration such  assessments  for  benefits  as  are  not  properly 
chargeable  against  revenue  shall  be  charged  to  cost  of 
construction. ' ' 

The  cost  of 

(6)   Taxes  for  the  respective  portions  of  the  Reconstruction 
of  Existing  Railroads  is  as  follows : 

(I)  Brighton     Beach     Line,     between 

Church  Av.  and  Malbone  St $15.00 

(II)  Brighton    Beach    Line,    between 
Neptune  Av.  and  Coney  Island  term.  15.00 

(III)  Sea  Beach  Line 37.50 

(IV)  Myrtle  Av.  and  B'way  Connection  7.50 

(V)  Lutheran   Cemetery  Line 7.50 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 37.50 

(XIII)  Terminals,  Yards  and  Shops..  30.00 


Total  cost  for  Taxes  pursuant  to  the 

Contract,  prior  to  March  19, 1913        $150.00 


Interest.  "  (1)   Interest  actually  and  necessarily  paid 

or  accrued  on  moneys  provided  by  the  City  or 
by  the  Lessee  or  on  its  behalf  from  time  to  time  for  the 
items  of  this  definition  from  the  respective  times  of  pro- 
viding said  moneys  (but  not  including  interest  on  any 
moneys  provided  by  the  Lessee  or  on  its  behalf  prior  to 
October  1,  1912)  to  the  beginning  of  operation  of  the 
part  of  the  Railroad  for  which  such  moneys  were  pro- 
vided, less  any  interest  received  by  the  City  or  by  the 
Lessee  or  on  behalf  of  the  Lessee  on  such  moneys." 

The  cost  of 

(7)   Interest  for  the  respective  portions  of  the  Reconstruc- 
tion of  Existing  Railroads  is  as  follows : 

(I)  Brighton    Beach    Line,     between 

Church  Av.  and  Malbone  St $35,974.48 

(II)  Brighton    Beach    Line,    between 
Neptune  Av.  and  Coney  Island  term.     35,974.48 

(III)  Sea  Beach  Line 89,936.18 

(IV)  Myrtle  Av.  and  B'way  Connection     17,987.23 

(V)  Lutheran  Cemetery  Line 17,987.23 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line ■ 

(IX)  Lexington  Avenue  Line ■ 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 89,936.19 

(XIII)  Terminals,  Yards  and  Shops..     71,948.95 


Total  cost  for  Interest  pursuant  to 
the  Contract,  prior  to  March  19, 
1913 $359,744.74 


I 


COST  OF  EQUIPMENT 


Debt  discount  "(3)   The  debt  discount  and  expense 

and  expense.  in  connection  with  Equipment,  provided, 
however,  that  the  debt  discount  and  ex- 
pense (except  in  case  of  Additions)  shall  not  exceed  an 
amount  equalto  three  per  centum  (3%)  of  the  cost  of 
equipment  for  initial  operation,  including  the  cost  under 
this  paragraph  (3). 

The  cost  of 

(3)  Debt  discount  and  expense  for  the  respective  portions  of 
the  Equipment  of  the  Reconstruction  of  Existing  Railroads  is 
as  follows: 

(I)  Brighton    Beach    Line,     between 

Church  Av.  and  Malbone  St $78.45 

(II)  Brighton    Beach    Line,    between 
Neptune  Av.  and  Coney  Island  term.  235.35 

(III)  Sea  Beach  Line.  /. 235.35 

(IV)  Myrtle  Av.  and  B'way  Connection        

(Y)   Lutheran  Cemetery  Line 78.45 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 156.90 

(XIII)  Terminals,  Yards  and  Shops..  156.90 

(XIV)  Car  Equipment 627.61 

Total  cost  for  Debt  discount  and  ex- 
pense pursuant  to  the  Contract, 
prior  to  March  19,  1913 $1,569.01 


Superintend-  ''(4)   The   actual    and   necessary   net 

ence,  etc.  cost  in  money  to  the  Lessee  for  superin- 

tendence, insvirance_j  damages,  adminis- 
tration, engineering  and  legal  expenses  in  and  about  the 
provision  of  the  Equipment,  including  in  respect 
of  the  cost  of  equipment  for  initial  operation  the  ex- 
penses above  referred  to  in  this  paragraph  actually  and 
necessarily  incurred  or  payable  by  the  Lessee  in  and  about 
Equipment  prior  to  the  date  of  this  contract,  and  in  ad- 
dition the  actual  and  necessary  expense  incurred  or  pay- 
able by  the  Lessee  in  printing,  engraving  and  certifying 
securities  for  Equipment  and  the  actual  and  necessary 
expense  in  organizing  the  Lessee." 

The  cost  of 

(4)  Lessee's  expense  for  superintendence,  etc.,  for  the  re- 
spective portions  of  the  Reconstruction  of  Existing  Railroads  is 
as  follows :  ; 

(I)  Brighton    Beach    Line,     between 

Church  Av.  and  Malbone  St $460.72 

(II)  Brighton  Beach  Line,  between 
Neptune  Avenue  and  Coney  Island 
terminal 1,382.12 

(III)  Sea  Beach  Line 1,382.12 

(IV)  Myrtle  Av.  and  B'way  Connection.        

(V)  Lutheran  Cemetery  Line 460.72 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 921.42 

(XIII)  Terminals,  Yards  and  Shops..  921.43 

(XIV)  Car  Equipment 3,685.68 


Total  cost  for  Lessee's  expense  for 
superintendence,  etc.,  pursuant  to 
the  Contract,  prior  to  March  19, 
1913 $9,214.21 


10 


Taxes.  "(5)   Taxes,   assessments   or  other   govern- 

mental charges  (including  mortgage  recording 
tax)  of  every  description  against  the  Lessee  actually  and 
necessarily  paid  or  accrued  in  and  about  the  provision  of 
the  Equipment  pending  the  time  when  the  portions  of  the 
Equipment  as  to  which  such  taxes,  assessments  or  other 
governmental  charges  were  paid  or  accrued  are  placed  in 
operation.  During  operation  such  assessments  for  benefits 
as  are  not  properly  chargeable  against  revenue  shall  be 
charged  to  cost  of  equipment." 

The  cost  of 

(5)   Taxes  for  the  respective  portions  of  the  Reconstruction 
of  Existing  Railroads  is  as  follows : 

(I)  Brighton     Beach     Line,     between 

Church  Av.  and  Malbone  St $2.50 

(II)  Brighton    Beach    Line,    between 
Neptune  Av.  and  Coney  Island  term.  7.50 

(III)  Sea  Beach  Line 7.50 

(IV)  Myrtle  Av.  and  B 'way  Connection.        

(V)  Lutheran  Cemetery  Line 2.50 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XIII)  Terminals,  Yards  and  Shops..  5.00 

(XIV)  Car  Equipment 20.00 


Total  cost  for  taxes  pursuant  to  the 

Contract,  prior  to  March  19,  1913  $50.00 


Interest.  ''  (6)   Interest  actually  and  necessarily  paid 

or  accrued  on  moneys  provided  by  the  Lessee 
or  on  its  behalf  from  time  to  time  for  the  items  of  this 
definition  from  the  respective  times  of  providing  said 
moneys  (but  not  including  interest  on  any  moneys  pro- 
vided by  the  Lessee  or  on  its  behalf  prior  to  October  1, 

11 


1912)  to  the  beginning  of  operation  of  the  part  of  the 
Equipment  for  which  such  moneys  were  provided,  less 
any  interest  received  by  the  Lessee  or  on  its  behalf  on  such 
moneys. ' ' 

The  cost  of 

(6)  Interest  for  the  respective  portions  of  the  Reconstruction 
of  Existing  Eailroads  is  as  follows : 

(I)  Brighton     Beach     Line,     betw^een 

Church  Av.  and  Malbone  St $5,995.75 

(II)  Brighton    Beach    Line,,  between 
Neptune  Av.  and  Coney  Island  term.  17,987.28 

(III)  Sea  Beach  Line 17,987.23 

(IV)  Myrtle  Av.  and  B'way  Connection         

(V)  Lutheran  Cemetery  Line 5,995.75 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 11,991.49 

(XIII)  Terminals,  Yards  and  Shops..      11,991.49 

(XIV)  Car  Equipment 47,965.97 

Total  cost  for  Interest  pursuant  to 
the  Contract,  prior  to  March  19, 
1913 $119,914.91 


APPENDIX    EXPLANATORY    OF    THE    ABOVE 
DETERMINATION 

Debt  discount  and  expense.  In  the  determination  of  Cost  of 

Construction  and  Cost  of  Equip- 
Lessee's  expense  for  ment  of  the  Railroad  for  Initial 

superintendence.  Operation  made   under   this  same 

date,  Character  and  division  of  the 
Taxes.  expenditures  by  the  Lessee  prior  to 

March  19,  1913,  are  fully  explained 
Interest.  and  reference   is  hereby   made   to 

them  to  identify  the  entries  herein. 
12 


UNIFORM    SYSTEM    OF    ACCOUNTS 

The  details  of  the  Costs  hereinbefore  set  forth  should  be 
classified  in  accordance  with  the  Uniform  System  of  Accounts 
prescribed  for  street  and  electric  railways  by  the  Public  Service 
Commission  in  its  order  of  December  8,  1908,  as  follows: 

For  the  Reconstruction  of  Existing  Railroads  for  Initial 
Operation. 

The  Cost  of  Construction  is  as  follows : 

Intangible  Street  Railway  Capital: 

Organization    $239.07 

Other  Intangible  Street  Railway  Capital  17,626.70 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 9,926.86 

Interest  during  construction 359,744.74 

Suspense: 

Unamortized  debt  discount  and  expense     4,707.02 

Total  Cost  of  Construction $392,244.39 


The  Cost  of  Equipment  is  as  follows : 

Intangible  Street  Railwau  Capital: 

Organization    $79.69 

Other  Intangible  Street  Railway  Capital     5,875.57 

Undistributed  Construct io n  Expenditures: 

Engineering  and  Superintendence 3,308.95 

Interest  during  construction 119,914.91 

Suspense-: 

Unamortized  debt  discount  and  expense     1,569.01 

Total  Cost  of  Equipment $130,748.13 

Total  Cost  of  Reconstruction  of  Exist- 
ing Railroads  for  Initial  Operation 

to  March  19,  1913 $522,992.52 

13 


These  costs  under  the  Uniform  System  of  Accounts  are  for 
each  portion  of  the  Existing  Railroads,  as  follows: 

BRIGHTON    BEACH    LINE,    BETWEEN    CHURCH    AV. 
AND    MALBONE    ST. 

Cost  of  Construction : 

Intangible  Street  Railway  Capital: 

Organization    $23.91 

Other  Intangible  Street  Railway  Capital     1,762.67 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 992.68 

Interest  during  construction 35,974.48 

Suspense : 

Unamortized  debt  discount  and  expense        470.70 

Total  Cost  of  Construction $39,224.44 


Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization $3.99 

Other  Intangible  Street  Railway  Capital       293.78 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 165.45 

Interest  during  construction 5,995.75 

Suspense : 

Unamortized  debt  discount  and  expense  78.45 

Total  Cost  of  Equipment $6,537.42 

Total   cost   for   Reconstruction   of   this 

portion  of  Existing  Railroads $45,761.86 


14 


BRIGHTON    BEACH    LINE,    BETWEEN    NEPTUNE    AV. 
AND  CONEY  ISLAND   TERMINAL 

Cost  of  Construction: 

Intangible  Street  Railivay  Capital: 

Organization    $23.91 

Other  Intangible  Street  Railway  Capital     1,762.67 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 992.68 

Interest  during  construction 35,974.48 

S^ispense : 

Unamortized  debt  discount  and  expense        470.70 

Total  cost  of  Construction $39,224.44 


Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization    $11.95 

Other  Intangible  Street  Railway  Capital       881.33 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 496.34 

Interest  during  construction 17,987.23 

Suspense : 

Unamortized  debt  discount  and  expense        235.35 

Total  cost  of  Equipment $19,612.20 

Total   cost   for   Reconstruction   of   this 

portion  of  Existing  Railroads $58,836.64 


15 


SEA   BEACH  LINE 

Cost  of  Construction: 

Intangible  Street  Railway  Capital: 

Organization   $59.77 

Other  Intangible  Street  Railway  Capital     4,406.67 

TJndistrihuted  Construction  Expenditures: 

Engineering  and  Superintendence 2,481.72 

Interest  during  construction 89,936.18 

Suspense : 

Unamortized  debt  discount  and  expense     1,176.76 

Total  cost  of  Construction $98,081.10 


Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization    $11.95 

Other  Intangible  Street  Railway  Capital       881.33 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 496.34 

Interest  during  construction 17,987.23 

Suspense : 

Unamortized  debt  discount  and  expense        235.35 

Total  cost  of  Equipment $19,612.20 

Total  cost   for  Reconstruction   of   this 

portion  of  Existing  Railroads $117,673.30 


16 


MYRTLE  AVENUE  AND  BROADWAY  CONNECTION 

Cost  of  Construction: 

Intangible  Street  Railway  Capital: 

Organization    $11.95 

Other  Intangible  Street  Railway  Capital       881.34 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 496.34 

Interest  during  construction 17,987.23 

Suspense : 

Unamortized  debt  discount  and  expense        235.35 

Total  cost  of  Construction $19,612.21 


Cost  of  Equipment : 

Note. — There    have    been    no    expendi- 
tures on  this  account. 

Total  cost  for  Reconstruction  of  this 

portion  of  Existing  Railroads $19,612.21 


17 


LUTHERAN    CEMETERY   LINE 

Cost  of  Construction: 

Intangible  Street  Raihvay  Capital: 

Organization    $11.95 

Other  Intangible  Street  Railway  Capital       881.33 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 496.35 

Interest  during  construction 17,987.23 

Suspense : 

Unamortized  debt  discount  and  expense        235.35 

Total  cost  of  Construction $19,612.21 


Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization   $3.99 

Other  Intangible  Street  Railway  Capital       293.78 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 165.45 

Interest  during  construction 5,995.75 

Suspense : 

Unamortized  debt  discount  and  expense         78.45 

Total  cost  of  Equipment $6,537.42 

Total  cost   for   Reconstruction   of  this 

portion  of  Existing  Railroads $26,149.63 


18 


CONEY  ISLAND  TERMINAL 

Cost  of  Construction : 

Intangible  Street  Bailway  Capital: 

Organization    $59.77 

Other  Intangible  Street  Railway  Capital    4,406.68 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 2,481.72 

Interest  during  construction 89,936.19 

Suspense : 

LTnamortized  debt  discount  and  expense     1,176.76 

Total  cost  of  Construction $98,06L12 


Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization    $7.97 

Other  Intangible  Street  Railway  Capital        587.56 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 330.89 

Interest  during  construction 11,991.49 

Suspense : 

LTnamortized  debt  discount  and  expense        156.90 

Total  cost  of  Equipment $13,074.81 

Total   cost   for   Reconstruction   of   this 

portion  of  Existing  Railroads $111,135.93 


19 


TERMINALS,  SHOPS  AND  YARDS 

Cost  of  Construction: 

Intangible  Street  Railway  Capital: 

Organization    $47.81 

Other  Intangible  Street  Railway  Capital     3,525.34 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 1,985.37 

Interest  during  construction 71,948.95 

Suspense : 

Unamortized  debt  discount  and  expense        941.40 

Total  cost  of  Construction $78,448.87 


Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization    7.97 

Other  Intangible  Street  Railway  Capital        587.56 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 330.90 

Interest  during  construction 11,991.49 

Suspense : 

Unamortized  debt  discount  and  expense        156.90 

Total  cost  of  Equipment $13,074.82 

Total  cost   for  Reconstruction   of  this 

portion  of  Existing  Railroads $91,523.69 


20 


CAR    EQUIPMENT 

Cost  of  Equipment : 

Intangible  Street  Baihvay  Capital: 

Organization    $31.87 

Other  Intangible  Street  Railway  Capital     2,350.23 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 1,323.58 

Interest  during  construction .   47,965.97 

Suspense : 

Unamortized  debt  discount  and  expense         627.61 

Total  cost  of  Equipment $52,299.26 

Total  cost   for  Reconstruction   of  this 

portion  of  Existing  Railroads $52,299.26 

Dated  New  York, 

October  14,  1913. 

Alfred  Craven, 

Chief  Engineer  of  the  Public  Service  Commission 
for  the  First  District. 


21 


Vo.  ^ 


In  the  Matter 

OF  THE 

Determination  of  the  Chief  Engineer    .  _,         _ 
of  the  Public  Service  Commission  for    f  ^^^^^  Determination 
the  First  District  under  the  contract,    I  *' Railroad'* 

dated  March  19,  1913,  between  the  \ 
City  of  New  York,  acting  by  the  Pub-  /  October  14,  1913. 
lie  Service  Commission  for  the  First 
District,  and  Interborough  Rapid 
Transit  Company,  of  the  cost  of  con- 
struction and  cost  of  equipment  of 
the  Railroad  paid  or  accrued  prior  to 
March  19,  1913.    (^C^-t^a^-^    3j 


I.  R.  T.— E.  D.  Prior— 1,500-0.' 13  (N) 


I 


In  the  IMatter 


OF  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  contract, 
dated  March  19,  1913,  between  the 
City  of  New  York,  acting  by  the  Pub- 
lic Service  Commission  for  the  First 
District,  and  Interborough  Rapid 
Transit  Company,  of  the  cost  of  con- 
struction and  cost  of  equipment  of 
the  Railroad  paid  or  accrued  prior  to 
March  19,  1913. 


Prior  Determination 

*' Railroad" 

October  14,  1913. 


To  the 

Public  Service  Commission  for  the  First  District,  and 
Interhorough   Rapid    Transit   Company: 

Pursuant  to  the  provisions  of  the  contract  dated  March  19, 
1913,  between  the  City  of  New  York  acting  by  the  Public  Ser- 
vice Commission  for  the  First  District,  and  Interhorough  Eapid 
Transit  Company,  known  as  Contract  No.  3,  and  in  accordance 
with  the  terms  of  Article  XXIX  thereof,  I  hereby  render  my 
determination  of  the  Cost  of  Construction  and  Cost  of  Equip- 
ment of  the  Railroad,  paid  or  accrued  -prior  to  March  19,  1913. 

For  the  Railroad  and  the  physical  connections  with  the  Exist- 
ing Railroads,  for  Initial  Operation. 

The  Cost  of  Construction  (Article  II,  Subdivision  17),  is  as 
follows : 

(1)  Labor  and  materials $6,679,178 .  09 

(2)  Real  estate 264,750.39 

(3)  Debt  discount  and  expense 

(4)  City's    expenses    for   superinten- 

dence, etc 1,261,353.07 

(5)  Lessee's  expenses  for  superinten- 

dnece,  etc 271,965.01 

(6)  Taxes 

(7)  Interest 377,107.80 

Total $8,854,354.36 

The  Cost  of  Equipment  (Articles  II,  Subdivision  18),  is  as 
follows : 

(1)  Labor  and  materials 

(2)  Real  estate 

(3)  Debt  discount  and  expense 

(4)  Superintendence,  etc $55,440.00 

(5)  Taxes 

(6)  Interest 

Total $55,440.00 

Total  Cost  of  Construction  and  Cost 

of  Equipment $8,909,794.36 

3 


Each  of  the  seven  parts  of  the  Cost  of  Construction  and  the 
six  parts  of  the  Cost  of  Equipment  is  taken  up  hereafter  in 
its  order.  They  are  shown  as  apphed  to  the  several  portions 
or  lines,  of  the  Railroad.  The  City's  share  and  the  Lessee's  con- 
tribution to  Cost  of  Construction  are  shown  separately,  and 
represent  actual  expenditures  chargeable  to  the  respective  lines, 
and  the  sum  of  the  City's  share  and  the  Lessee's  contribution  as 
tabulated  above  represents  the  actual  and  necessary  cost. 

It  is  necessary  to  keep  separate  the  City's  share  and  the 
Lessee's  contribution  as  to  parts  of  the  Railroad  in  order  to 
provide  a  basis  for  computing  deductions  from  revenue  in  the 
case  of  temporary  operation  (Article  XLIX,  Subdivision  7,  and 
Article  LII).  It  is  also  hecessary  to  separate  the  cost  of  con- 
struction and  cost  of  equipment  into  lines  of  the  Railroad  to 
accord  with  the  provisions  of  the  contract  relative  to  recaption. 

The  records  of  cost,  from  which  this  determination  is  made, 
are  kept  in  such  detail  that  the  cost  of  any  principal  part  of  the 
Railroad  may  be  identified  so  that  in  case  of  its  retirement  or 
withdrawal  from  service,  the  said  cost  may  be  withdrawn  from 
the  appropriate  depreciation  fund  as  provided  under  Article 
XLIX,  Subdivision  5.  A  summary  of  these  records  is  given  in 
an  appendix.  The  Uniform  System  of  Accounts  as  prescribed 
by  the  Public  Service  Commission  is  followed  for  this  purpose. 


COST  OF  CONSTRUCTION 

Labor  and  '^  (1)   The   actual   and   necessary   net 

materials.  cost  in  money  to  the  City  (and  the  Lessee 

through  its  contribution,  including  the 
Steinway  Tunnel  at  three  million  [$3,000,000]  dollars, 
toward  the  cost  of  construction)  of  all  labor  and  materials 
entering  into  Construction." 

The  cost  of 

(1)  Labor  and  materials  for  such  specified  portions,  or  lines, 
of  the  Railroad  is  as  follows : 

City's  Lessee's 

Share  Contribution  Total 

(I)  Seventh  Ave.— 
Lexington 
Ave.  Line — 

(a)  Seventh 

Ave.  Branch 

(b)  L  e  X  i  n  g  - 
ton    Avenue 

Branch $6,679,178.09        $6,679,178.09 

(II)    Eastern  Park- 
way Line. .  .         

(III)  Steinway  Tun- 

nel Line. .  . .         

(IV)  White     Plains 

Road  Line . .         


Total  cost  of  labor 
and  materials 
pursuant  to  the 
contract  paid  or 
accrued  prior  to 
March  19,  1913.   $6,679,178.09 $6,679,178.09 


(For  details,  see  pp.  11  to  17  post.) 
5 


Real  estate.  *'(2)  The   actual   and   necessary  net 

cost  in  money  to  the  City  (and  the  Lessee 
through  its  contribution,  including  the  Steinway  Tunnel 
at  three  milHon  [$3,000,000]  dollars,  toward  the  cost  of 
construction)  of  any  real  estate  or  interest  therein  here- 
after acquired  or  extinguished  therefor  or  the  reasonable 
value  of  any  real  estate  or  interest  therein  heretofore  ac- 
quired and  hereafter  appropriated  for  the  purpose  of  the 
Eailroad),  including  terminals,  storage  yards,  and  shops, 
together  with  the  actual  and  necessary  expense  in  connec- 
tion with  such  acquisition,  extinction  or  appropriation,  but 
there  shall  not  be  included  in  the  term  'real  estate  or  in- 
terest therein'  any  damages  the  City  may  have  to  pay  for 
acquiring  rights  or  easements  for  the  Railroad  in  streets 
under  the  principles  of  the  decision  in  Matter  of  Board  of 
Rapid  Transit  Railroad  Commissioners  (Joralemon  Street) 
197  N.  Y.  81.  There  shall  be  included,  however,  damages 
the  City  may  have  to  pay  for  extinguishing  rights  of  light, 
air  and  access  in  connection  with  the  construction  or  opera- 
tion of  the  elevated  portions  of  the  Railroad. ' ' 

The  cost  of 

(2)  Real  Estate  for  such  specified  portions,  or  lines,  of  the 
Railroad,  is  as  follows: 

City's  Lessee's 

Share  Contribution  Total 

(I)  Seventh  Ave.— 
Lexington 
Ave.  Line — 

(a)  Seventh 

Ave.  Branch        

(b)  Lexing- 
ton    Ave. 

Branch $264,750 .  39  $264,750 .  39 

(II)    Eastern  Park- 
way Line .  .  .         

(III)  Steinway  Tun- 

nel Line. . .  .         

(IV)  White     Plains 

Road  Line. .         


Total  cost  for  real 
estate  pursuant 
to  the  Contract, 
prior    to    March 

19,  1913 $264,750 .  39 $264,750 .  39 

1  (For  details,  see  pp.  17  and  18  post.) 
6 


Lessee's  ex-  "(5)  The   actual   and  necessary  net 

penses  for  cost  in  money  to  the  Lessee  for  superinten- 

superinten-         dence,    insurance,    damages,    administra- 
dence,  etc.  tion,  engineering  and  legal  expenses  in 

and  about  Construction,  including  in  re- 
spect of  the  cost  of  construction  for  initial  operation  the 
expenses  above  referred  to  in  this  paragraph  actually  and 
necessarily  incurred  or  payable  by  the  Lessee  in  and  about 
Construction  prior  to  the  date  of  this  contract  and  in  addi- 
tion the  actual  and  necessary  expense  incurred  or  payable 
by  the  Lessee  in  printing,  engraving  and  certifying  securi- 
ties for  Construction.*' 

The  cost  of 

(5)  Lessee's  expenses  for  superintendence,  etc.,  in  and  about 
construction  for  the  specified  portions,  or  lines,  of  the  Railroad 
is  as  follows : 

(I)  Seventh  Avenue-Lexington  Avenue  Line: 

(a)  Seventh  Avenue  Branch $81,589.50 

(b)  Lexington  Avenue  Branch 108,786.01 

(II)   Eastern  Parkway  Line 40,794.75 

(III)  Steinway  Tunnel  Line 27,196.50 

(IV)  White  Plains  Road  Line 13,598.25 


Total  cost  for  Lessee's  expenses  for  superin- 
tendence, etc.,  pursuant  to  the  contract 
paid  or  accrued  prior  to  March  19,  1913. .     $271,965.01 


I 


(For  details,  see  p.  20  post.) 


City's  expenses  ''(4)     The    actual    and    necessary 

for  superinten-  net  cost  in  money  to  the  City  for 

dence,  etc.  superintendence,  insurance,  damages, 

engineering,  legal  expenses  and  ad- 
ministration in  and  about  construction  and  equipment; 
including  in  respect  of  the  cost  of  construction  for  initial 
operation  the  expenses  above  referred  to  in  this  paragraph 
actually  and  necessarily  incurred  or  payable  by  the  City  in 
and  about  Construction  and  Equipment  prior  to  the  date 
of   this   contract." 

The  cost  of 

(4)  City's  expense  for  superintendence,  etc.,  in  and  about 
construction  for  the  specified  portions,  or  lines,  of  the  Railroad  is 
as  follows: 

(I)     Seventh  Avenue-Lexington  Avenue  Line: 

(a)  Seventh  Avenue  Branch $116,690.01 

(b)  Lexington  Avenue  Branch 1,033,889.91 

(II)     Eastern  Parkway  Line 53,030.27 

(III)  Steinway  Tunnel  Line 46,760.83 

(IV)  White  Plains  Road  Line 10,982.05 


Total  cost  for  City's  expenses  for  superin- 
tendence, etc.,  pursuant  to  the  contract, 
paid  or  accrued  prior  to  March  19,  1913.  .  $1,261,353.07 

The  above  determination  includes  only  expenditures  of  the  City's  money 
by  the  Pubhe  Service  Commission  for  the  First  District,  and  its  predecessor, 
the  Board  of  Rapid  Transit  Railroad  Commissioners. 


(For  details,  see  pp.  19  and  20  post.) 
8 


Interest.  "(7)     Interest    actually    and    necessarily 

paid  or  accrued  on  moneys  provided  from 
time  to  time  for  the  items  of  this  definition  from  the  re- 
spective times  of  providing  said  moneys  to  the  beginning 
of  operation  of  the  part  of  the  Railroad  for  which  such 
moneys  were  provided,  less  any  interest  received  by  the  City 
or  by  the  Lessee  on  such  moneys;  provided,  however,  that 
in  computing  interest  during  the  period  of  Construction  of 
the  Railroad  (exclusive  of  Additions)  the  rate  of  interest 
paid  by  the  Lessee  shall  be  deemed  to  be  six  (6%) 
per  centum  and  the  rate  received  by  the  Lessee  shall  be 
deemed  to  be  two  and  one-half  (2|)  per  centum,  and  pro- 
vided, further,  that  money  shall  not  be  provided  by  the 
Lessee  in  excess  of  the  amount  fixed  in  annual  estimates 
to  be  agreed  upon  by  the  Commission  and  the  Lessee  un- 
less with  the  consent  of  the  Commission. 

^'In  case  any  portion  of  the  cost  of  construction  borne 
by  the  City  shall  be  met  by  other  than  corporate  stock 
or  other  long  term  interest  bearing  securities  the  same  shall 
be  deemed  to  bear  interest  at  the  rate  specified  in  the  last 
then  preceding  sale  by  the  City  of  corporate  stock  or  other 
long  term  interest  bearing  securities." 

The  cost  of 

(7)  Interest  for  such  specified  portions,  or  lines,  of  the  Railroad, 
is  as  foUoAvs: 

City's  Lessee's 

Share        Contribution  Total 

(I)  Seventh  Avenue- 
Lexington  Ave. 
Line: 

(a)  Seventh  Ave. 

Branch $8,053.62     $3,697.33       $11,750.95 

(b)  Lexington 

Ave.  Branch .  .        351,932 .  07       4,929 .  78       356,861 .  85 
(II)  Eastern  Parkway 

Line 2,456 .  77        1,848 .  67  4,305 .  44 

(III)  Steinway  Tunnel 

Line 1,204 .  60   1,232 .  44     2,437 .  04 

(IV)  White  Plains  Rd. 

Line 1,136.30  616.22  1,752.52 


Total  Cost  of  Interest 
pursuant  to  the  Con- 
tract for  the  period 
from  March  19  to 
June  30,  1913,  in- 
clusive       $364,783.36    $12,324.44     $377,107.80 

(For  details,  see  pp.  20  to  23  post.) 
9 


COST  OF  EQUIPMENT 

Superinten-  ''(4)  The   actual   and  necessary  net 

dence,  etc.  cost  in  money  to  the  Lessee  for  superin- 

tendence, insurance,  damages,  administra- 
tion, engineering  and  legal  expenses  in  and  about  the  pro- 
vision of  the  Equipment  including  in  respect  of  the  cost  of 
equipment  for  initial  operation  the  expenses  above  referred 
to  in  this  paragraph  actually  and  necessarily  incurred  or 
payable  by  the  Lessee  in  and  about  Equipment  prior  to 
the  date  of  this  contract  and  in  addition  the  actual  and 
necessary  expense  incurred  or  payable  by  the  Lessee  in 
printing,  engraving,  and  certifying  securities  for  Equip- 
ment. ' ' 

The  cost  of 

(4)   Superintendence,  etc.,  in  and  about  Equipment  for  the 
specified  portions,  or  lines,  of  the  Railroad,  is  as  follows : 
(I)  Seventh  Avenue-Lexington  Avenue  Line: 

(a)  Seventh  Avenue  Branch $7,207.20 

(b)  Lexington  Avenue  Branch 23,284.80 

(II)   Eastern  Parkway  Line 8,870.40 

(III)  Steinway  Tunnel  Line 10,533.60 

(IV)  White  Plains  Road  Line 5,544.00 

Total  cost  of  superintendence,  etc.,  pursuant 
to  the  contract,  paid  or  accrued  prior  to 
March  19,  1913 $55,440.00 


(For  details,  see  p.  20  post.) 
10 


I 


APPENDICES  EXPLANATORY  OP  THE  ABOVE  DETER- 
MINATIONS. 

Labor  and  Labor  and  materials  means  the  cost  of  con- 

materials,  structing   the   Railroad   by  sections  under   the 

several  construction  contracts  which  have  either 
been  entered  into  or  may  be  entered  into  from  time  to  time. 
These  construction  contracts  cover  the  prosecution  of  the  con- 
struction work  and  payment  therefor  on  a  unit  basis.  Each 
month  the  various  contractors  executing  the  contracts  are  paid 
upon  the  basis  of  monthly  estimates  certified  to  by  me.  The 
aggregate  of  these  monthly  estimates  represents  the  cost  of  labor 
and  materials  entering  into  construction.  These  monthly  esti- 
mates are  customarily  made  as  of  the  last  day  of  the  month  and 
cover  the  cost  of  construction  as  of  such  date.  The  estimates 
are  identified  by  numbers,  which  indicates  the  serial  order  in 
which  such  estimates  have  been  made. 

Article  XXIX  of  the  Contract  requires  the  Chief  Engineer 
to  determine  the  cost  of  construction  paid  or  accrued  prior  to 
the  date  of  the  contract.  Therefore,  this  covers  the  cost  to  and 
including  March  18,  1913.  For  this  reason  it  has  been  assumed 
that  18/3 Ists  of  the  March  construction  contract  regular  esti- 
mates accrued  prior  to  March  19,  1913,  leaving  13/31sts  of  such 
certified  estimates  to  be  entered  into  the  cost  of  construction  for 
the  first  quarterly  determination.  This  is  the  most  satisfactory 
method  of  dividing  the  labor  and  material  costs  for  March  as 
between  the  prior  determination  and  the  quarterly  determination. 

Since  the  labor  and  material  is  based  upon  the  section  con- 
tracts for  construction,  as  already  explained,  it  has  been  con- 
sidered advisable  to  subdivide  the  labor  and  material  determina- 
tion by  sections.  Also  a  certain  amount  of  subdivision  is  desir- 
able so  that  if  the  Commission  should  declare  any  part  of  the 
Railroad  ready  for  operation,  as  provided  under  Article  LII  of 
the  Contract,  the  cost  of  such  part  to  be  used  as  a  basis  for  the 
distribution  of  revenue  could  be  readily  determined.  Exactly 
what  parts  might  be  declared  ready  for  operation,  it  is  hardly 
feasible  to  say  at  this  time.  The  construction  contract  is  a  rea- 
sonable unit  to  keep  identified  so  that  any  combination  may  be 
made  as  required.     Therefore, 

(1)  The  cost  of  labor  and  materials  as  included  in  this  deter- 
mination for  the  Cost  of  Construction  paid  or  accrued  prior  to 
March  19,  1913,  by  sections  and  by  estimates  is  as  follows : 

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16 


The  Roman  figures  under  the  column  ''Certified  Under" 
refer  to  article  numbers  in  the  construction  contracts.  Arti- 
cle XI  covers  work  susceptible  of  classification  which  is  certified 
to  under  the  regular  estimates,  at  the  regular  unit  prices.  Arti- 
cle XII  covers  work  not  susceptible  of  classification  for  which 
special  estimates  are  made. 

All  regular  estimates  are  included  in  the  determination  as 
accruing  on  the  last  day  of  the  month  which  they  cover.  Special 
estimates  covering  scattered  work  prosecuted  at  various  times 
are  considered  as  having  accrued  on  the  date  on  which  the  esti- 
mate is  certified. 

Real  estate.  Real   estate  means,   as  represented  by  the 

amounts  which  have  entered  into  this  determina- 
tion, the  disbursements  as  reported  by  the  Auditor  of  the  Public 
Service  Commission,  covering  the  following  necessary  expendi- 
tures in  the  acquisition  of  properties  and  easements : 

Clerical  expenses;  fees  for  examining  and  insuring  titles; 
payments  for  property. 

As  in  the  case  of  labor  and  materials,  a  certain  amount  of 
subdivision  is  desirable  and  is  given  in  the  following  tabulation: 

(2)  Real  Estate  represented  by  the  City's  expense  as  in- 
cluded in  this  determination  for  the  Cost  of  Construction  for  the 
period  prior  to  March  19,  1913,  is  as  follows : 


17 


W 
Eh 

O 

W 
O 

> 
< 

O 
H 
O 

18 


City's  The    City's    expenses    for    superinten- 

expenses  dence,   etc.,  means  as  represented  by  the 

for   superinten-  amounts    which  have    entered   into   this 

dence.  determination,   a   portion   of  the  payroll 

of  the  Engineering  Department,  deter- 
mined partly  from  the  time  records  as  being  chargeable  to  cost  of 
construction  and  partly  from  other  information  available  in  the 
files  of  the  Chief  Engineer's  office;  also  a  portion  of  the  payrolls  of 
the  Secretary's  office  and  the  other  departments  of  the  Commis- 
sion, estimated  as  being  chargeable  to  this  work;  also  employes' 
disbursements;  stationery,  supplies  and  printing;  rental;  tele- 
phone and  telegraph;  furniture  and  fixtures;  instrument  supplies, 
maps,  plans,  prints  and  photo  supplies;  etc.  It  includes  also  the 
cost  of  test  borings.  A  proportion  of  these  disbursements  other 
than  salaries  was  charged  to  the  several  lines  on  the  basis  of  the 
salary  charges. 

Besides  the  expenditures  mentioned  in  the  preceding  para- 
graph as  made  by  the  Public  Service  Commission  there  has  been 
added  the  value  of  the  work  done  by  the  Board  of  Rapid  Transit 
Railroad  Commissioners  prior  to  July  1st,  1907,  so  far  as  such 
work  has  been  incorporated  in  the  Dual  System.  This  work  con- 
sists of  base  lines,  bench  levels,  surface  topography  (field  and 
office  work),  sub-surface  topography,  including  cross-sections 
(field  and  office  work),  test  borings,  administrative  and  legal  ex- 
penses, rent,  supplies,  etc. 

The  expenditures  by  the  Public  Service  Commission  during 
the  years  1907  to  1910  inclusive  were  for  the  most  part  taken  from 
the  records  made  for  the  purpose  of  the  legislative  report  known 
as  the  Carlisle  investigation.  Of  the  Tri-Borough  Route  there 
reported,  46%  is  incorporated  in  the  Lexington  Avenue  Branch. 
To  these  costs  has  been  added  a  proper  percentage  of  rent,  sup- 
plies, etc.,  of  the  Engineering  Department  and  of  administrative 
and  legal  expenses,  etc. 

For  the  year  1911  the  charges  to  each  line  were  arrived  at  by 
estimation. 

During  the  year  1912,  from  January  to  May  inclusive,  the 
charges  of  the  Engineering  Department  to  the  respective  lines  were 
arrived  at  by  estimation;  for  June  to  December  inclusive  the 
charges  are  the  result  of  records  made  up  from  time  reports, 
as  to  the  field  divisions  and  from  partial  time  reports  as  to  the 
designs  division.  An  estimated  amount  was  added  for  the  Legal 
and  other  departments  of  the  Commission. 

19 


For  the  year  1913  up  to  March  18th  same  conditions  ruled  as 
for  June  to  December,  1912. 

Lessee's  When  there  are  expenditures  of  an  executive 

expenditures       and   administrative   nature   it   is   impossible   to 
generally.  allocate  them  to  specific  construction  work.     All 

of  the  expenditures  made  by  the  Interborough 
Rapid  Transit  Company  prior  to  the  date  of  the  contract,  so  far 
as  they  have  been  properly  chargeable  to  the  Railroad,  have  been 
distributed  among  the  several  lines,  on  the  basis  of  relative  es- 
timated costs. 

Lessee's  expenses  All  of  the  Lessee's  expenditures  occurring 

for  superintendence,  in  this  determination  come  under  the  cost 
of  construction  item  (5)  Lessee's  expenses 
for  superintendence  and  cost  of  equipment  item  (4)  Superinten- 
dence, etc.,  so  far  as  the  Lessee  submitted  them.  The  Lessee  sub- 
mitted a  list  of  vouchers  for  Engineering  and  Superintendence 
which  when  corrected  came  to  a  total  of  $129,405.01.  .  This 
amount  was  distributed  under  cost  of  construction  among  the 
several  lines.  The  Lessee  submitted  also  evidences  of  legal  ex- 
penses and  administrative  charges  which  after  eliminating  the 
expenses  of  the  publicity  campaign  aggregated  $198,000.00.  This 
amount  was  distributed  under  cost  of  construction  and  cost  of 
equipment  among  the  several  lines. 

Interest  on  On  the  first  amount  in  the  preceding 

Lessee's  money.  paragraph  interest  has  been  computed  at 

6%  to  March  18th,  1913,  from  the  date  of 
the  voucher.  No  interest  has  been  computed  on  the  second 
amount,  as  the  date  of  disbursement  for  the  purpose  of  this  report 
has  been  assumed  to  be  March  18th,  1913. 

Interest  on  Interest    on   moneys   provided   by   the 

moneys  provided  City  has  been  computed  in  three  parts : 

by  the  City.  First,  interest  actually  paid  on  corporate 

stock  and  notes,  less  credit  of  interest 
on  bank  balances;  second,  interest  computed  on  corporate  stock 
interest,  ' 'deemed  to  bear  interest  at  the  rate  specified  in  the 
last  then  preceding  sale  by  the  City  of  corporate  stock;"  third, 
interest  on  City's  expenses  for  superintendence,  etc.,  ''deemed 
to  bear  interest  at  the  rate  specified  in  the  last  then  preceding 
sale  by  the  City  of  corporate  stock." 

20 


The  interest  actually  paid  on  corporate  stock  has  been  re- 
ported to  the  Public  Service  Commission  by  the  Comptroller  in  a 
statement  under  date  of  September  30th,  1913,  which  gives  details 
of  moneys  provided  for  the  Broadway-Lexington  Avenue  Route 
as  well  as  for  others.  This  statement  gives  the  amounts  provided 
by  notes  prior  to  the  sale  of  corporate  stock  and  that  provided 
by  sale  of  corporate  stock,  with  the  dates  thereof;  total  interest 
payable  at  the  several  interest  dates  and  the  credit  of  interest  on 
bank  balances;    also  the  allotments  as  the  money  was  required. 

It  was  necessary  to  divide  the  interest  of  the  Broadway-Lex- 
ington Avenue  Route  into  three  portions;  first,  that  portion  in- 
cluded in  the  Lexington  Avenue  Branch  of  the  Seventh  Avenue- 
Lexington  Avenue  Line;  second,  that  portion  embodied  in  the 
Broadway-Fourth  Avenue  Line;  and  third,  that  portion  involved 
by  contract  section  6  of  Route  6,  which  is  not  a  part  of  the  Dual 
System.  To  do  this  the  following  assumption  was  made.  The 
interest  on  the  total  of  the  allotted  amounts  at  each  interest  date 
was  divided  on  the  basis  of  the  total  monthly  estimates  to  each 
respective  date.     Following  are  the  ratios  used: 

To  To               To               To 

Line                March  1,  Sept.  1,  March  1,  March  18, 

1912  1912             1913             1913 

Per  Cent.  Per  Cent.  Per  Cent.  Per  Cent. 
Lexington     Avenue 

Branch 81.91  79.57          73.74          73.74 

Broadway-Fourth 

Avenue 33  15.79          24.31           24.31 

Eliminated 17.76  4.64            1.95             1.95 


100.00         100.00         100.00         100.00 

Interest  on  unallotted  amounts  was  assumed  to  be  chargeable 
proportionally  to  the  sum  of  the  contract  value  of  each  contract 
section  divided  by  the  number  of  months  required  to  complete, 
giving  the  following  ratios  applied  up  to  June  1st,  1912: 

Per  Cent. 

Lexington  Avenue  Branch 72 .  37 

Broadway-Fourth  Avenue^Line 15.93 

Eliminated '. 11 .70 


100.00 
21 


For  the  period  subsequent  to  June  1st,  1912,  the  ratios  were 

Per  Cent. 

Lexington  Avenue  Branch 81 .  95 

Broadway-Fourth  Avenue  Line 18 .  05 

EHminated 

100.00 

Before  applying  these  ratios  the  interest  chargeable  on  expendi- 
tures for  real  estate  was  deducted.  The  application  of  the  above 
ratios  gives  an  interest  charge  to  the  Lexington  Avenue  Branch,  as 
summarized  on  the  following  page. 

Moneys  provided  by  other  than  corporate  stock  or  corporate 
stock  notes  is  ''deemed  to  bear  interest  at  the  rate  specified  in  the 
last  then  preceding  sale  by  the  City  of  corporate  stock  or  other 
long  term  interest  bearing  securities."  The  ruling  rate  from  1910 
to  date  has  been  4i  per  cent.  The  rate  of  interest  on  corporate 
stock  sold  prior  to  1910  averaged  very  close  to  4i  per  cent, 
and  the  same  rate  of  4i  per  cent,  therefore  has  been  applied  to  all 
disbursements.  Inasmuch  as  the  exact  date  of  the  disburse- 
ments for  City's  expenses  for  Superintendence,  etc.,  on  which 
interest  has  been  computed  is  not  known,  it  has  been  assumed 
that  the  expenditures  for  six  months,  as  July  1st  to  December 
31st  inclusive,  were  made  at  the  middle  day  of  the  period,  that 
is,  September  30th,  and  interest  has  been  computed  from 
such  date. 


22 


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UNIFORM   SYSTEM   OF  ACCOUNTS 

The  details  of  the  Costs  hereinbefore  set  forth  should  be 
classified  in  accordance  with  the  Uniform  System  of  Accounts 
prescribed  for  street  and  electric  railways  by  the  Public  Service 
Commission  in  its  order  of  December  8,  1908,  as  follows: 

For  the  Railroad  for  Initial  Operation, 

The  Cost  of  Construction  is  as  follows: 

Lessee 's 
City's  Share.  Contribution. 
Land: 

Right  of  Way $264,750.39  — 

Road  and  Electric  Line: 

Tunnels 6,679,178.09  

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence. .  1,098,396.49    $129,405.01 

Law  expenditures  during  Con- 
struction   43,811.98        46,800.00 

Interest  during  construction 364,783.36         12,324.44 

Miscellaneous  construction  expen- 
ditures   119,144.60        95,760.00 


Totals $8,570,064.91     $284,289.45 

Total  Cost  of  Construction $8,854,354.36 

The  Cost  of  Equipment  is  as  follows : 

Undistributed  Construction  Expenditures: 

Law  expenditures  during  Construction $18,200.00 

Miscellaneous  construction  expenditures 37,240.00 


Total  Cost  of  Equipment $55,440.00 

Total  Cost  of  Construction  and  Cost  of  Equipment.  $8,909,794.36 


24 


These  costs  under  the  Uniform  System  of  Accounts  are  for 
each  hne  of  the  Railroad,  as  follows: 

SEVENTH  AVENUE  BRANCH  OF  THE  SEVENTH 
AVENUE-LEXINGTON  AVENUE  LINE: 

''Cost  of  Construction": 

Lessee 's 
City's  Share.  Contribution. 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.       $81,113.61      $38,821.50 

Law  expenditures  during  Con- 
struction   8,504.64        14,040.00 

Interest  during  Construction 8,053.62  3,697.33 

Miscellaneous  construction  expen- 
ditures          27,07i;76        28,728.00 


Totals $124,743.63      $85,286.83 

Total  Cost  of  Construction $210,030.46 


''Cost  of  Equipment": 

Undistributed  Construction  Expenditures: 

Law  expenditures  during  Construction $2,366.00 

Miscellaneous  construction   expenditures 4^841.20 


Total  Cost  of  Equipment $7,207.20 

Total  Cost  of  Construction  and  Cost  of  Equipment.     $217,237.66 


25 


LEXINGTON  AVENUE  BRANCH  OF  THE  SEVENTH 
AVENUE-LEXINGTON  AVENUE  LINE : 

''Cost  of  Construction": 

Lessee 's 
City's  Share.  Contribution. 
Land: 

Right  of  Way $264,750.39  

Road  and  Electric  Line: 

Tunnels 6,679,178.09  

Undistributed  Construction  Expenditures : 

Engineering  and  Superintendence.  940,253.93      $51,762.01 

Law  expenditures  during  Con- 
struction   27,967.69        18,720.00 

Interest  during  Construction 351,932.07          4,929.78 

Miscellaneous  construction  expen- 
ditures   65,668.29        38,304.00 

Totals $8,329,750.46    $113,715.79 

Total  Cost  of  Construction $8,443,466.25 


"Cost  of  Equipment": 

Undistributed  Construction  Expenditures: 

Law  expenditures  during  Construction $7,644.00 

Miscellaneous  construction  expenditures 15,640,80 

Total  Cost  of  Equipment $23,284.80 

Total  Cost  of  Construction  and  Cost  of  Equipment.  $8,466,751.05 


26 


EASTERN  PAEKWAY  LINE : 

''Cost  of  Construction": 

Lessee's 
City 's  Share.  Contribution. 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.       $36,794.22      $19,410.75 

Law  expenditures  during  Con- 
struction   3,531.61  7,020.00 

Interest  during  Construction 2,456.77  1,848.67 

Miscellaneous  construction  expen- 
ditures          12,704.44        14,364.00 

Totals $55,487.04      $42,643.42 

Total  Cost  of  Construction $98,130.46 


''Cost  of  Equipment": 

Undistributed  Construction  Expenditures : 

Law  expenditures  during  Construction $2,912.00 

Miscellaneous  construction  expenditures 5,958.40 

Total  Cost  of  Equipment $8,870.40 

Total  Cost  of  Construction  and  Cost  of  Equipment.  $107,000.86 


27 


STEINWAY  TUNNEL  LINE: 

"Cost  of  Construction": 

Lessee 's 

City's  Share.  Contribution. 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.       $36,444.62  $12,940.50 

Law  expenditures  during  Con- 
struction            2,274.43  4,680.00 

Interest  during  Construction 1,204.60  1,232.44 

Miscellaneous  construction  expen- 
ditures            8,041.78  9,576.00 

Totals $47,965.43  $28,428.94 

Total  Cost  of  Construction $76,394.37 


''Cost  of  Equipment": 

Undistributed  Construction  Expenditures : 

Law  expenditures  during  Construction $3,458.00 

Miscellaneous  construction  expenditures.  ......  7,075.60 

Total  Cost  of  Equipment $10,533.60 

Total  Cost  of  Construction  and  Cost  of  Equipment.  $86,927.97 


28 


WHITE  PLAINS  ROAD  LINE  : 

"Cost  of  Construction": 

Lessee 's 
City's  Share.  Contribution. 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.         $3,790.11        $6,470.25 

Law  expenditures  during  Con- 
struction   1,533.61  2,340.00 

Interest  during  Construction 1,136.30  616.22 

Miscellaneous  construction  expen- 
ditures   5,658.33  4,788.00 

Totals $12,118.35      $14,214.47 

Total  Cost  of  Construction $26,332.82 


''Cost  of  Equipment": 

Undistributed  Construction  Expenditures: 

Law  expenditures  during  Construction $1,820.00 

Miscellaneous  construction  expenditures 3,724.00 

Total  Cost  of  Equipment $5,544.00 

Total  Cost  of  Construction  and  Cost  of  Equipment.      $31,876.82 

Dated,  New  York, 

October  14,  1913. 

Alfred  Craven, 

Chief  Engineer  of  the  Public  Service  Commission 
for  the  First  District. 


29 


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To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  Contract  4  and  the 
certificates  related  thereto,  under  this  date  I  am  rendering 
in  detail  my  determinations  of  the  costs  paid  or  accrued 
prior  to  March  19,  1913,  separately  with  respect  to 
Contract  4  and  each  certificate. 

These  determinations,  summarized,  are  for 

Expenditures  Expenditures 

by  City.  by  Lessee.                    Total. 
Contract   4 — Railroad: 

Cost    of    Construction $33,531,583.57  $653,740.67        $34,185,324.24 

Cost    of    Equipment 784,488.82                 784,488.82 

Total    Cost    of    the 

Railroad    $33,531,583.57  $1,438,229.49        $34,969,813.06 

Contract  4 — Reconstruc- 
tion of  Existing  Rail- 
roads: 

Cost    of    Construction 882,999.51  882,999.51 

Cost    of    Equipment 294,183.29  294,183.29 

Total  Cost  of  Recon- 
struction of  Ex- 
isting   Railroads..  $1,177,182.80  $1,177,182.80 

Total  Cost  of  Con- 
tract   4 $33,531,583.57  $2,615,412.29        $36,146,995.86 

Certificate    for    Aditional 

Tracks :    None  None 

Certificate  for  Elevated  Exten- 
sions :    None  None 

Total  for  New  York 
Municipal  Railway 
Corporation  Lines, 
Contract  4  and 
Certificates $33,531,583.57  $2,615,412.29        $36,146,995.86 

Dated  New  York, 

November  24,  1913. 

ALFRED    CEAYEN, 

Chief  Engineer, 
Public  Service  Commission  for  the  First  District. 

Note. — Attached  hereto  is  a  tabulation  giving  the  Lessee's  ex- 
penditures by  items  as  defined  in  the  Contract. 


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In  the  Matter 


OF  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for/ 
the  First  District  under  the  contract,! 
dated  March  19,  1913,  between  The 
City  of  New  York,  acting  by  the  Pub-/ 
lie  Service  Commission  for  the  First 
District,  and  New  York  Municipal 
Eailway  Corporation,  of  the  cost  of 
construction  and  cost  of  equipment  of 
the  Eailroad  paid  or  accrued  prior  to 
March  19,  1913. 


Pkioe  Determination 

"  Eailroad  " 

November  24,  1913. 


To  the 

Public  Service  Commission  for  the  First  District,  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  the  contract  dated  March  19, 
1913,  between  The  City  of  New  York,  acting  by  the  Public  Service 
Commission  of  the  First  District,  and  the  New  York  Municipal 
Eailway  Corporation,  known  as  Contract  No.  4,  and  in  accord- 
ance with  the  terms  of  Article  XXIX  thereof,  I  hereby  render 
my  determination  of  the  "  Cost  of  Construction ''  and  the  "  Cost 
of  Equipment"  of  the  Railroad  paid  or  accrued  prior  to  March 
19,  1913. 

For  the  Eailroad, 

The  Cost  of  Construction  (Article  II,  Subdivision  14)  is  as 
follows : 

Lessee's 
City's  Share.  Contribution.  Total. 

(1)  Labor  and  materials $25,406,350.87  $25,406,350.87 

(2)  Real  estate 2,607,748.59  2,607,748.69 

(3)  Debt  discount  and  expense......  ■ 

(4)  City's    expenses    for    superintend- 

ence, etc 2,226,301 .25  2,226,301 .  25 

(5)  Lessee's     expenses     for     superin- 

tendence, etc $58,916 .  10  53,916 .  10 

(6)  Taxes    250.00  250.00 

(7)  Interest    3,291,182.86  599,574.57        3,890,757.43 

Total     .' $33,531,583.57  $653,740.67    $34,185,324.24 

The  Cost  of  Equipment  for  Initial  Operation  (Article  II,  Sub- 
division 15)  : 

Cost  to  Lessee. 

( 1 )  Labor  and  materials 

( 2  )  Real  estate 

(3)  Debt  discount  and  expense 

(4)  Superintendence,    etc $64,699.32 

(5)  Taxes    300.00 

(6)  Interest    719,489.50 

Total    $784,488.82 

Total  Cost  of  Construction  and  Cost  of  Equipment $34,969,813.06 

Each  of  the  seven  parts  of  the  Cost  of  Construction  and  the 
six  parts  of  the  Cost  of  Equipment  is  taken  up  hereafter  in 
its  order.  They  are  shown  as  applied  to  the  several  portions, 
or  lines,  of  the  Eailroad.  The  City^s  share  and  the  Lessee's  con- 
tribution to  Cost  of  Construction  are  shown  separately,  and 
represent  actual  expenditures  chargeable  to  the  respective  lines, 
and  the  sum  of  the  City's  share  and  the  Lessee's  contribution 
as  tabulated  above  represents  the  actual  and  necessary  cost. 

It  is  necessary  to  keep  separate  the  City's  share  and  the 
Lessee's   contribution   as   to   parts   of   the   Eailroad   in   order  to 

3 


provide  g,  basis  for  computing  deductions  from  revenue  in  the 
ease  of  temporary  operation  (Article  XLIX,  Subdivision  7,  and 
Article  LII).  It  is  also  necessary  to  separate  the  cost  of  con- 
struction and  cost  of  equipment  into  lines  of  the  Railroad  to 
accord  with  the  provisions  of  the  contract  relative  to  recaption. 

.  The  records  of  costs,  from  which  this  determination  is  made, 
are  kept  in  such  detail  that  the  cost  of  any  principal  part  of  the 
Railroad  may  be  identified  so  that  in  case  of  its  retirement  or 
withdrawal  from  service,  the  said  cost  may  be  withdrawn  from 
the  appropriate  depreciation  fund  as  provided  under  Article 
XLIX/  Subdivision  5.  A  summary  of  these  records  is  given  in 
an  appendix.  The  Uniform  System  of  Accounts  as  prescribed 
by  the  Public  Service  Commission  is  followed  for  this  purpose. 
The  Uniform  System  of  Accounts  prescribed  for  all  street  rail- 
way companies  contains  a  complete  classification  of  property  ac- 
counts similar  to  that  prescribed  in  other  jurisdictions  and  there- 
fore entitled  to  recognition  as  a  standard  classification.  This 
classification  will  permit  the  itemization  of  costs  as  between  tun- 
nels, track,  signal  system,  electric  line  construction,  cars,  and 
other  classes  of  equipment. 


COST    OF    CONSTEUCTION 

Labor  and  "  W     The    actual    and    necessary   net 

materials  ^'^^^  ^^  money  of  all  labor  and  materials 

entering  into  Construction."  Section  11 
of  Article  II  says :  "  The  word  '  Construction '  to  mean 
all  work  of  constructing  the  Railroad  including  the  doing 
of  work,  the  providing  of  materials,  the  restoration  and 
reconstruction  of  street  surfaces,  sewers,  and  all  surface, 
subsurface  and  overhead  and  abutting  structures  inter- 
fered with  during  the  building  of  the  Railroad  and  all 
other  work  to  be  done  or  materials  to  be  furnished  of 
every  nature  whatsoever  necessary  to  the  completion  of 
the  railroad  structure,  all  tracks  (meaning  thereby  the 
track  structure  complete,  including  all  ballast,  ties,  con- 
crete, rails,  special  work,  spikes,  joints,  bolts,  tie  plates, 
and  all  other  material  or  apparatus  necessary  to  build  the 
track,  but  not  including  electrical  or  signal  material  or 
apparatus),  together  with  all  real  estate  and  interests 
therein  necessary  to  be  acquired  or  extinguished  for  the 
purpose  of  constructing  and  operating  the  Railroad." 


The  cost  of 

(1)   Labor  and  materials  for  such  specified  portions,  or  lines, 
of  the  Railroad  is  as  follows : 

Lessee's 
City's  Share    Contribution  Total 

(I)   B'way  -  Fourth 

Ave.  Line .  .  .  $25,406,350 .  87*  —     $25,406,350 .  87 

(II)   Culver  Line. .  .       

(III)   Fourteenth  St.- 

Eastern  Line       


Total  cost  for  Labor 
and  materials  pur- 
suant to  the  con- 
tract for  the  period 
prior  to  March  19, 
1913    $25,406,350.87 $25,406,350.87 


*NoTE — $54,261.63  of  this   (cost  for  Canal  Street  physical  connection)   will  be 
pmyable  by  the  Lessee  during  a  subsequent  period,  pursuant  to  Art.  XI  of  Contract  4. 


(For  details,  see  pp.  14  to  32  post.) 
5 


Real  estate  "  (^)     The    actual    and    necessary    net 

cost  in  money  of  any  real  estate  or  interest 
therein  acquired  or  extinguished  for  Construction,  in- 
cluding terminals,  storage  yards  and  shops,  together  with 
the  actual  and  necessary  expense  in  connection  with  such 
acquisition  or  extinction,  but  there  shall  not  be  included 
in  the  term  ^  real  estate  or  interest  therein '  any  damages 
the  City  may  have  to  pay  for  acquiring  rights  or  ease- 
ments for  the  Eailroad  in  streets  under  the  principles  of 
the  decision  in  Matter  of  Board  of  Eapid  Transit  Eail- 
road Commissioners  (Joralemon  Street),  197  N.  Y.  31. 
There  shall  be  included,  however,  damages  the  City  may 
have  to  pay  for  extinguishing  rights  of  light,  air  and 
access  in  connection  with  the  construction  of  the  elevated 
portions  of  the  Eailroad." 

The  cost  of 

(2)   Eeal  estate  for  such  specified  portions,   or  lines,   of  the 
Eailroad  is  as  follows: 

Lessee's 
City's  Share    Contribution  Total 

(I)   BVay  -  Fourth 

Ave.  Line .  . .   $2,607,748 .  59     $2,607,748 .  59 

(II)   Culver  Line ..  .       

(III)  Fourteenth  St.- 

E  astern  Line      


Total  cost  for  real 
estate  pursuant  to 
the  Contract  prior 
to  March  19,  1913.   $2,607,748.59     $2,607,748.59 


(For  details,  see  pp.  32  to  34  post.) 
6 


City's  expense  for  /'  (*)  .^he  actual  and  necessary 

superintendence,  etc.  "^^  ':°^*  ^^  ™o°.*'y  ^  ^^^  pity  for 
superintendence,  insurance,  damages, 
engineering,  and  legal  expenses  and  administration  in  and 
about  Construction  and  Equipment,  and  in  and  about  the 
plant  and  property  constructed  and  provided  under  the 
certificates  for  extensions  and  additional  tracks  herein- 
before referred  to,  including  in  respect  of  the  cost  of  con- 
struction the  expenses  above  referred  to  in  this  paragraph 
actually  and  necessarily  incurred  or  payable  by  the  City 
in  and  about  the  Construction  and  Equipment  (and  such 
construction  and  provision  of  the  plant  and  property  of 
such  extensions  and  additional  tracks)  prior  to  the  date 
of  this  contract/' 

The  cost  of 

(4)  City's  expense  for  superintendence,  etc.,  for  such  specified 
portions  of  the  Railroad  and  about  the  plant  and  property  con- 
structed and  provided  under  certificates  and  also  in  and  about 
the  reconstruction  of  existing  railroads  is  as  follows : 

(I)  Broadway-Fourth  Avenue  Line $2,164,018.01 

(II)  Culver  Line 11,525.33 

(III)  Fourteenth  St.-Eastern  Line 40,196 . 38 

*(IV)  Reconstruction  of  Existing  Railroads 5,280.78 

(V)  Additional  Tracks  provided  under  certificate  2,112 .  30 
(VI)  Elevated  Extensions  provided  under  certifi- 
cate     3,168.45 

Total  cost  for  City's  expense  for  superintendence, 

etc.,  prior  to  March  19,  1913 $2,226,301.25 

The  above  determination  includes  only  expenditures  of  the  City's 
money  by  the  Public  Service  Commission  for  the  First  District,  and  its 
predecessor,  the  Board  of  Rapid  Transit  Railroad  Commissioners. 

*  Note. — This  item  is  not  specifically  covered  by  the  definition  above 
quoted.     {See  Appendix.) 


(For  details,  see  pp.  35  to  36,  post.) 

7 


Lessee's  expense  for  ,  "  ( ^ ) .  ^^e  actual  and  necessary 
superintendence,  etc.  "^^  ^°'\  m  money  to  the  Lessee  for 
superintendence,  insurance,  dam- 
ages, administration,  engineering  and  legal  expenses  in 
and  about  Construction  including  in  respect  of  the  cost 
of  construction  for  initial  operation  the  expenses  above 
referred  to  in  this  paragraph  actually  and  necessarily 
incurred  or  payable  by  the  Lessee  in  and  about  Con- 
struction prior  to  the  date  of  this  contract  and  in  addi- 
tion the  actual  and  necessary  expense  incurred  or  pay- 
able by  the  Lessee  in  printing,  engraving  and  certifying 
securities  for  Construction  and  the  actual  and  necessary 
expense  in  organizing  the  Lessee/^ 

The  cost  of 

(5)   Lessee's  expense  for  superintendence,  etc.,  for  such  spec- 
ified portions,  or  lines,  of  the  Eailroad  is  as  follows : 

Lessee's 
Contribution 

(I)   Broadway-Fourth  Avenue  Line $43,132.88 

(II)   Culver  Line 2,695.80 

(III)   Fourteenth  St.-Eastern  Line 8,087 . 42 

Total  cost  for  Lessee's  expense  for  superintendence, 
etc.,  pursuant  to  the  Contract,  prior  to  March  19, 
1913    $53,916.10 


(For  details,  see  pp.  41  to  45,  post.) 
8 


rjs  "  (6)   Taxes,  assessments  or  other  gov- 

^^^^*  emmental     charges     (including    mortgage 

recording  tax)  of  every  description  against  the  Lessee 
actually  and  necessarily  paid  or  accrued  in  and  about 
Construction  pending  the  beginning  of  operation  of  the 
part  of  the  Eailroad  as  to  which  such  taxes,  assessments 
or  other  governmental  charges  were  paid  or  accrued. 
During  operation  such  assessments  for  benefits  as  are  not 
properly  chargeable  against  revenue  shall  be  charged  to 
cost  of  construction/' 

The  cost  of 

(6)   Taxes  for  such  specified  portions,  or  lines,  of  the  Eail- 
road is  as  follows : 

Lessee's 
Contribution 

(I)  Broadway-Fourth  Avenue  Line $200.00 

(II)   Culver  Line  12.50 

(III)  Fourteenth  St.-Eastern  Line 37 .  50 

Total  cost  for  Taxes  pursuant  to  the  Contract,  prior 
to  March  19,  1913 $250.00 


(For  details,  see  pp.  41  to  45,  post.) 


Interest  "  C^)   Interest  actually  and  necessarily 

paid  or  accrued  on  moneys  provided  by 
the  City  or  by  the  Lessee  or  on  its  behalf  from  time  to 
time  for  the  items  of  this  definition  from  the  respective 
times  of  providing  said  moneys  (but  not  including  interest 
on  any  moneys  provided  by  the  Lessee  or  on  its  behalf 
prior  to  October  1,  1912)(  to  the  beginning  of  operation 
of  the  part  of  the  Eailroad  for  which  such  moneys  were 
provided,  less  any  interest  received  by  the  City  or  by  the 
Lessee  or  on  behalf  of  the  Lessee  on  such  moneys/' 

"  In  case  any  portion  of  the  cost  of  construction  borne 
by  the  City  shall  be  met  by  other  than  corporate  stock 
or  other  long  term  interest  bearing  securities,  the  same 
shall  be  deemed  to  bear  interest  at  the  rate  specified  in  the 
last  then  preceding  sale  by  the  City  of  corporate  stock  or 
other  long  term  interest  bearing  securities." 

The  cost  of 

(7)  Interest  for  such  specified  portions,  or  lines,  of  the 
Eailroad  is  as  follows : 

City's  Lessee's 

Share.  Contribution.         Total. 
(I)  B'way- Fourth 

Ave.   Line...   $3,286,756.62  $479,659.66  $3,766,416.28 

(II)   Culver   Line...               419.37  29,978.73          30,398.10 


(III)   Fourteenth  St.- 

Eastern  Line 

3,671.76 

89,936.18 

93,607.94 

(IV)    Eeconstruction 

of     Existing 

Eailroads    . . 

167.55 

167.55 

(V)   Additional 

Tracks , 

67.03 

67.03 

(VI)   Elevated  Exten- 

sions     

100.53 

100.53 

Total  cost  for  Interest 
pursuant  to  the  Con- 
tract prior  to  March 
19,  1913 $3,291,182.86    $599,574.57  $3,890,757.43 


(For  details,  see  pp.  36  to  40  and  46  to  47,  post.) 
10 


COST   OF   EQUIPMENT. 

Superintendence,  etc.  ,  "  (^l  ^^^  ^^^^f  1  and  necessary " 
net  cost  m  money  to  the  Lessee  for 
superintendence,  insurance,  damages,  administration,  engi- 
neering and  legal  expenses  in  and  about  the  provision  of  the 
Equipment,  including  in  respect  of  the  cost  of  equipment 
for  initial  operation  the  expenses  above  referred  to  in  this 
paragraph  actually  and  necessarily  incurred  or  payable  by 
the  Lessee  in  and  about  Equipment  prior  to  the  date  of  this 
contract,  and  in  addition  the  actual  and  necessary  expense 
incurred  or  payable  by  the  Lessee  in  printing,  engraving  and 
certifying  securities  for  Equipment  and  the  actual  and  nec- 
essary expense  in  organizing  the  Lessee.*' 

The  cost  of 

(4)   Superintendence,  etc.,  for  such  specified  portions,  or  lines, 
of  the  Eailroad  is  as  follows : 

(I)  Broadway-Fourth  Avenue  Line $48,524.49 

(II)   Culver  Line 9,704.90 

(III)   Fourteenth  St.-Eastern  Line 6,469.93 

Total  cost  for  Superintendence,  etc.,  pursuant  to  the 

Contract,  prior  to  March  19,  1913 $64,699 .  32 


(For  details,  see  pp.  41  to  45,  post.) 
U 


"(5)  Taxes,  assessments  or  other  governmental 
laxes.  charges  (including  mortgage  recording  tax)  of 
every  description  against  the  Lessee  actuall}^  and  necessarily 
paid  or  accrued  in  and  about  the  provision  of  the  Equipment 
pending  the  time  when  the  portions  of  the  Equipment  as  to 
which  such  taxes,  assessments  or  other  governmental  charges 
were  paid  or  accrued  are  placed  in  operation.  During  opera- 
tion such  assessments  for  benefits  as  are  not  properly  charge- 
able against  revenue  shall  be  charged  to  cost  of  equipment/' 

The  cost  of 

(5)   Taxes  for  such  specified  portions,  or  lines,  of  the  Eailroad 
is  as  follows: 

(I)  Broadway-Fourth  Avenue  Line $225.00 

(II)   Culver  Line 45.00 

(III)   Fourteenth  St.-Eastern  Line. .  .^ 30 .  00 

Total  cost  for  Taxes  pursuant  to  the  Contract,  prior  to 

March  19,  1913 $300.00 


(For  details,  see  pp.  41  to  45,  post.) 
12 


Interest  "  (^)   Iiiterest  actually  and  necessarily  paid 

or  accrued  on  moneys  provided  by  the  Lessee  or 
on  its  behalf  from  time  to  time  for  the  items  of  this  defini- 
tion from  the  respective  times  of  providing  said  moneys 
(but  not  including  interest  on  any  moneys  provided  by  the 
Lessee  or  on  its  behalf  prior  to  October  1,  1912)  to  the  be- 
ginning of  operation  of  the  part  of  the  Equipment  for  which 
such  moneys  were  provided,  less  any  interest  received  by  the 
Lessee  or  on  its  behalf  on  such  moneys." 

The  cost  of 

(6)   Interest  for  such  specified  portions,  or  lines,  of  the  Eail- 
road  is  as  follows: 

(I)  Broadway-Fourth  Avenue  Line $539,617.12 

(II)   Culver  Line  107,923.43 

(III)   Fourteenth  St.-Eastern  Line 71,948.95 

Total  cost  for  Interest  pursuant  to  the  Contract,  prior 

to  March  19,  1913 $719,489.50 


(For  details,  see  pp.  46  to  47,  post.) 
13 


APPENDICES  EXPLANATOEY  OF  THE  ABOVE 
DETERMINATIONS. 

'^  Labor  and  materials  '^  means  the  cost  of  con- 
materials  structing  the  Railroad  by  sections  under  the  sev- 
eral construction  contracts  which  have  either 
been  entered  into  or  may  be  entered  into  from  time  to  time. 
These  construction  contracts  cover  the  prosecution  of  the  con- 
struction work  and  payment  therefor.  Each  month  the  various 
contractors  executing  the  contracts  are  paid  upon  the  basis  of 
monthly  estimates  certified  to  by  me.  The  aggregate  of  these 
monthly  estimates  represents  the  cost  of  labor  and  materials 
entering  into  construction.  These  monthly  estimates  are  cus- 
tomarily made  as  of  the  last  day  of  the  month  and  cover  the 
cost  of  construction  as  of  such  date.  The  estimates  are  identified 
by  numbers,  which  indicate  the  serial  order  in  which  such  esti- 
mates have  been  made. 

Article  XXIX  requires  the  Chief  Engineer  to  determine  the 
cost  of  construction  paid  or  accrued  prior  to  the  date  of  the  con- 
tract. Therefore,  this  covers  the  cost  to  and  including  March  18, 
1913.  For  this  reason  it  has  been  assumed  that  18/31sts  of  the 
March  construction  contract  regular  estimates  accrued  prior  to 
March  19,  1913,  leaving  13/31sts  of  such  certified  estimates  to  be 
entered  into  the  cost  of  construction  for  the  first  quarterly  deter- 
mination. This  is  the  most  satisfactory  method  of  dividing  the 
labor  and  material  costs  for  March  as  between  the  prior  determina- 
tion and  the  quarterly  determination. 

Since  the  labor  and  material  is  based  upon  the  section  contract 
for  construction,  as  already  explained,  it  has  been  considered  advis- 
able to  subdivide  the  labor  and  material  determination  by  sections. 
Also  a  certain  amount  of  subdivision  is  desirable  so  that  if  the 
Conimission  should  declare  any  part  of  the  Railroad  ready  for  opera- 
tion, as  provided  under  Article  LII  of  the  contract,  the  cost  of 
such  part  to  be  used  as  a  basis  for  the  distribution  of  revenue  could 
be  readily  determined.  Exactly  what  parts  might  be  declared  ready 
for  operation  it  is  hardly  feasible  to  say  at  this  time.  The  con- 
struction contract  is  a  reasonable  unit  to  keep  identified  so  that  any 
combination  may  be  made  as  required.    Therefore, 

(1)  The  cost  of  labor  and  material  as  included  in  this  deter- 
mination for  the  cost  of  construction  paid  or  accrued  prior  to  March 
19,  1913,  by  sections  and  estimates  as  follows: 

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31 


The  Roman  figures  vunder  the  column  "  Certified  Under  ^^  refer 
to  article  numbers  in  the  construction  contracts.  Article  XI 
covers  work  susceptible  of  classification  which  is  certified  to  under 
the  regular  estimates  at  the  regular  unit  prices.  Article  XII 
covers  work  not  susceptible  of  classification  for  which  special  esti- 
mates are  made.  The  words  "  regular  "  and  "  extra ''  are  used 
(in  the  column  "Certified  Under  ^')  in  the  case  of  the  older 
construction  contracts.  These  were  let  on  terms  different  from 
the  newer  ones  in  that  the  contract  was  for  a  lump  sum  subject 
to  modification  as  in  the  respective  contracts  provided.  "  Regular  " 
refers  to  payments  made  of  the  lump  sum  value  of  the  contract 
and  the  monthly  payments  are  made  relative  to  the  said  contract 
value  of  the  entire  work.  "  Extra  "  refers  to  payments  made  for 
the  work  done  under  modification  of  the  respective  contracts.  All 
"  regular "  estimates  and  estimates  for  "  extra "  work  submitted 
regularly  (the  older  construction  contracts)  are  included  in  the 
determination  as  accruing  on  the  last  day  of  the  month  which 
they  cover.  Special  estimates  covering  scattered  work  prosecuted 
at  various  times  are  considered  as  having  accrued  on  the  date  on 
which  the  estimate  is  certified- 

The  detailed  plans  for  construction  of  some  of  the  older  sec- 
tion contracts  provide  for  pipe  galleries,  and  separate  contracts 
for  such  galleries  accompanied  the  contracts  for  construction  of 
the  railroad.  The  definition  of  construction  covers  the  restora- 
tion and  reconstruction  of  street  surfaces,  sewers  and  of  surface, 
subsurface  and  overhead  and  abutting  structures  interfered  with 
in  the  building  of  the  railroad,  and  all  other  work  to  be  done  or 
materials  to  be  furnished  of  every  nature  whatsoever,  necessary 
to  the  completion  of  the  railroad  structure  (Chapter  II  of  said 
construction  contract).  The  cost  of  pipe  galleries  does  not  come 
within  this  definition  and  is  therefore  not  included  in  the  deter- 
mination. 

"  Real   estate "  means,  as   represented  by  the 
amounts  which  have  entered  into  this  determina- 
tion, the  disbursements  as  reported  by  the  Auditor  of  the  Public 
Service    Commission,    covering   the   following   necessary   expendi- 
tures in  the  acquisition  of  properties,  easements,  and  leases: 

Compensation  of  commissioners  of  appraisal,  consulting  en- 
gineers, experts  of  appraisal  of  lands,  buildings,  machinery,  etc. ; 
clerical,  stenographic  and  photographic  services  rendered  to  the 
commissioners  of  appraisal,  printing  and  supplies  for  the  same ; 

32 


advertising  of  notices  of  the  several  authorities ;  fees  for  examining 
and  insuring  titles ;  payments  and  awards  together  with  the  credit 
of  proceeds  from  the  rental  and  sales  of  buildings  and  lands. 

As  in  the  case  of  labor  and  materials,  a  certain  amount  of  sub- 
division is  desirable  and  is  given  in  the  following  tabulation: 

(2)  Eeal  ^estate  represented  by  City's  expense  as  included  in 
this  determination  for  the  Cost  of  Construction  for  the  period  prior 
to  March  19,  1913,  is  as  follows: 


33 


O   "3   CO 
O   (N   t^ 


'O  ,-H    CO    lO 

<0  T«     O    1-H 


Ph        m 


,_( 

t^ 

IN 

03 

(N 

"*. 

(N 

CD 

CO 

CO 

05 

00 

CO 

(M 

CO 

f-l 

co" 

00 

O  O  ■*  lO 

05 

00  00  »C  1>  1> 

K> 

OJ  O  (N  O 

CO 

05  ^  00  CO  00 

^ 

a 

OS  (N  O  iC 

(sj 

00  Tt*  1-1  CO  O 

(N 

CO  CO  t^  03 

lO  lO  CO  »0  CO 

CO 

<u 

N  CO  ic  t-^ 

O  O)  r-^  I>  <N 

o 

ID 

U 

lO  CO  00  IC 

CO 

oT  00  CD  CO  oi" 

3 

(N     C^  <N 

00 

■*     (N  00  >-< 

05 

^ 

(N         r-l 

CO 

S       "O  00 

03. 

.2 

0» 

e© 

m 

(N 

Q 

o» 

^  O   ^    <N    S 

^2         5>  05  S   2 


00  a>  o  1-1  (N 

o   o   '-''-'   i-i 

OJ    0>    03    05    Ol 


H    C 

O     K 
Ek4  02 


H   C4 

pi«  . 
IS 

M    O 
PS    H 

pq  cQ 


34 


p.     ,  The  City's  expenses  for  superintendence, 

.  etc.,  means,  as  represented  by  the  amounts 

*  which  have  entered  into  this  determination 
a  portion  of  the  payroll  of  the  Engineering  Department,  determined 
partly  from  the  time  records  as  being  chargeable  to  cost  of  con- 
struction and  partly  from  other  information  available  in  the  files 
of  the  Chief  Engineer's  office;  also  a  portion  of  the  payrolls  of 
the  Secretary's  office  and  the  other  departments  of  the  Com- 
mission, estimated  as  being  chargeable  to  this  work;  also  employees' 
disbursements;  stationery,  supplies  and  printing;  rental;  tele- 
phone and  telegraph;  furniture  and  fixtures;  instrument  supplies; 
maps,  plans,  prints  and  photo  supplies,  etc.  It  includes  also 
the  cost  of  test  borings.  A  proportion  of  these  disbursements 
other  than  salaries  was  charged  to  the  several  lines  on  the  basis 
of  the  salary  charges. 

Besides  the  expenditures  mentioned  in  the  preceding  paragraph 
as  made  by  the  Public  Service  Commission  there  has  been  added 
the  value  of  the  work  done  by  the  Board  of  Rapid  Transit  Eailroad 
Commissioners  prior  to  July  1st,  1907,  so  far  as  such  work  has 
been  incorporated  in  the  Dual  System.  This  work  consists  of 
base  lines,  bench  levels,  surface  topography  (field  and  office  work), 
sub-surface  topography  including  cross-sections  (field  and  office 
work),  test  borings,  administrative  and  legal  expenses,  rent,  sup- 
plies, etc.  It  includes  designs  for  the  Centre  Street  Loop  and  the 
Fourth  Avenue  Brooklyn  Subway- 

The  expenditures  by  the  Public  Service  Commission  during 
the  years  1907  to  1910  inclusive  were  for  the  most  part  taken 
from  the  records  made  for  the  purpose  of  the  legislative  report 
known  as  the  Carlisle  investigation.  Of  the  Tri-Borough  Route 
there  reported,  29  per  cent,  is  incorporated  in  the  Broadway- 
Fourth  Avenue  Line.  The  Brooklyn  Loop  Line  and  the  Fourth 
Avenue  Subway  were  taken  in  their  entirety.  To  these  costs 
has  been  added  a  proper  percentage  of  rent,  supplies,  of  the 
Engineering  Department  and  of  administrative  and  legal  ex- 
penses, etc. 

For  the  year  1911  the  charges  to  each  line  were  arrived  at  by 
estimation. 

During  the  year  1912,  from  January  to  May  inclusive,  the 
charges  of  the  Engineering  Department  to  the  respective  lines 
were  arrived  at  by  estimation;  for  June  to  December  inclusive 
the  charges  are  the  result  of  records  made  up  from  time  reports 
as  to  the  field  divisions  and  from  partial  time  reports  as  to  the 


designs  division.  An  estimated  amount  was  added  for  the  Legal 
and  other  departments  of  the  Commission. 

For  the  year  1913  up  to  March  18th  same  conditions  ruled 
as  for  June  to  December,  1912. 

Although  the  item  for  the  Eeconstruction  of  Existing  Eailroads 
(IV)  is  not  specifically  included  in  "  City^s  Expenses  for  Super- 
intendence, etc./'  under  the  Cost  of  Construction  of  the  Eailroad, 
its  determination  is  provided  for  in  Article  XIII  of  Contract  4. 

Interest   on   moneys   provided   by   the 
Interest  on  moneys        r^-.      ■,        ,  x   n    •      ^  ^ 

.  ,  ,     p,.  City   has    been   computed   m   tour   parts : 

y  y'     First,  interest  actually  paid  on  corporate 

stock  and  notes,  less  credit  of  interest  on  bank  balances;  Second, 
interest  computed  on  corporate  stock  interest  "  deemed  to  bear 
interest  at  the  rate  specified  in  the  last  then  preceding  sale  by  the 
City  of  corporate  stock '' ;  Third,  interest  on  City's  expenses  for 
superintendence,  etc.,  "  deemed  to  bear  interest  at  the  rate  speci- 
fied in  the  last  then  preceding  sale  by  the  City  of  corporate  stock  " ; 
Fourth,  credit  of  interest  computed  on  proceeds  received  from 
the  sale  and  from  the  use  of  real  estate,  ^'deemed  to  bear  interest 
at  the  rate  specified  in  the  last  then  preceding  sale  by  the  City  of 
corporate  stock." 

The  interest  actually  paid  on  corporate  stock  has  been  reported 
to  the  Public  Service  Commission  by  the  Comptroller  in  a  statement 
under  date  of  September  30th,  1913,  which  gives  details  of  moneys 
provided  for  the  Centre  Street  Loop  Lines,  for  the  Fourth  Avenue 
Subway  and  for  the  Broadway-Lexington  Avenue  Route.  This 
statement  gives  the  amounts  provided  by  notes  prior  to  the  sale  of 
corporate  stock  and  that  provided  by  the  sale  of  corporate  stock 
with  the  dates  thereof,  the  total  interest  payable  at  the  several 
interest  dates  and  the  credit  of  interest  on  bank  balances,  also 
the  allotments  as  the  money  was  used. 

It  was  necessary  to  divide  the  interest  of  the  Broadway- 
Lexington  Avenue  Eoute  into  three  portions:  First,  That  portion 
embodied  in  the  Broadway-Fourth  Avenue  Line ;  Second,  That  por- 
tion included  in  the  Lexington  Avenue  branch  of  the  Seventh  Ave- 
nue-Lexinsrton  Avenue  Line ;  Third,  That  portion  involved  by  con- 
tract section  6  of  Eoute  5,  which  is  not  a  part  of  the  Dual  System. 
To  do  this  the  following  assumption  was  made.  The  interest 
on  the  total  of  the  allotted  amounts  at  each  interest  date  was 
divided  on  the  basis  of  the  total  monthly  estimates  to  each  respective 
date.    The  following  are  the  ratios  used : 

36 


To  To  To  To 

Mar.  1,      Sept.  1,       Mar.  1,      Mar.  18, 


Line 

1912 

1912 

1913 

1913 

Per  Cent. 

Per  Cent. 

Per  Cent. 

Per  Ceni 

Broadway  -  Fourth 

A\'€nue   

0.33 

15.79 

24.31 

24.31 

Lexington  A  y  e  n  ii  e 

Branch    

81.91 

79.57 

73.74 

73.74 

Eliminated 

17.76 

4.64 

1.95 

1.95 

100.00       100.00       100.00       100.00 

Interest  on  unallotted  amounts  was  assumed  to  be  chargeable 
proportionately  to  the  sum  of  the  contract  yalue  of  each  contract 
section,  diyided  by  the  number  of  months  required  to  complete, 
giying  the  following  ratios;  applied  up  to  June  1st,  1912: 

Per  Cent. 

Broadway-Fourth  Ayenue  Line 15.93 

Lexington  Ayenue  Branch 72.37 

Eliminated 11 .  70 


100.00 


For  the  period  subsequent  to  June  1st,  1912,  we  get : 

Broadway-Fourth  Ayenue  Line 18.05 

Lexington  Avenue  Branch 81.95 

Eliminated   ■ 


100.00 


Before  applying  these  ratios  the  interest  chargeable  on  ex- 
penditures for  real  estate  was  deducted.  The  application  of  the 
aboye  ratios  giyes  an  interest  charge  to  the  Broadway-Fourth 
Ayenue  Line,  as  follows: 

Broadway  Portion  of  Broadway-Lexixgton  Avenue 

Route,  Corporate  Stock  Interest 

TO  March  19,  1913. 

Corporate  Stock  Interest  actually  paid  or  accrued.  .       $68,347.83 

Interest  on  same  at  4i/4  per  cent 524. 57 


Total   Interest    Chargeable   to    Cost   of   Construc- 
tion          $68,872.40 

37 


It  was  necessary  to  reduce  the  interest  reported  by  the  Comp- 
troller as  paid  on  account  of  the  Centre  Street  Loop  Lines  by 
an  amount  chargeable  to  the  construction  of  pipe  galleries.  To 
do  this  the  ratio  of  expenditures  to  March  19th  on  pipe  galleries 
to  the  total  expenditures  on  railroad  and  pipe  galleries  was  applied 
to  the  total  interest  charge.  The  ratio  was  1.92  per  cent.  Before 
applying  this  ratio  deduction  was  made  of  the  interest  computed 
on  payments  made  for  real  estate.  The  following  table  shows 
the  correction : 

Ceis^tre  Street  Loop — Interest  to  March  19,  1913. 

Corporate  Stock  Interest 
actually  paid  or  ac- 
crued   $1,744,306.50 

Interest, on  same  at  4^4: 

per  cent 139,556.87 

$1,883,863 .  37 

Interest  on  Eeal  Estate  ($2,991,062 .  55) 

(compounded)   at  4l^  per  cent 290,253.26    $290,253.26 

$1,593,610.11 
Deduct  1.20  per  cent,  for  pipe  galleries        19,123.32 

1,574,486.79 

Total  Interest  on  Eailroad  and  Eeal  Estate ^1,864,740.05 

Credit    Interest   on    Proceeds   from   Eeal    Estate 
'  ($753,775.04)  at  4i/i  per  cent 75,748.33 

Total   Interest   Chargeable   to   Cost   of   Construc- 
tion  $1,788,991.72 


38 


The  same  was  the  case  with  the  Fourth  Avenue,  Brooklyn, 
subway.  The  ratio  in  this  case  was  1.20  per  cent.  The  following 
table  shows  the  correction: 

FouKTH  Avenue  Subway — Interest  to  March  19,  1913. 

Corporate  Stock  Interest 
actually  paid  or  ac- 
crued   $1,124,399.87 

Interest  on  same  at  4^4 

per  cent 43,023.45 

$1,167,423.32 

Interest  on  Real  Estate  ($386,297.69) 

(compounded)  at  4%  per  cent 25,831.09 

$25,831.09 

Xet    interest    chargeable    to    Railroad 

and  pipe  galleries $1,141,592.23 

Deduct   1.92   per   cent,   for   pipe   gal- 
leries           21,918.57 

1,119,673.66 


Total  Interest  on  Railroad  and  Real  Estate $1,145,504.75 

Credit   Interest   on   Proceeds    from   Real    Estate 

($15,835.61)  at  4i/4  per  cent 1,580.56 


Net  Interest  Chargeable  to  Cost  of  Construction.  .$1,143,924.19 

Moneys  provided  by  other  than  corporate  stock  or  corporate 
stock  notes  is  "  deemed  to  bear  interest  at  the  rate  specified  in 
the  last  then  preceding  sale  by  the  City  of  corporate  stock  or 
other  long  term  interest  bearing  securities."  The  ruling  rate 
from  1910  to  date  has  been  4i/^  per  cent.  The  rate  of  interest 
on  corporate  stock  sold  prior  to  1910  averaged  very  close  to  4^ 
'  per  cent.,  and  the  same  rate  of  4^  per  cent,  therefore  has  been 
applied  to  all  disbursements.  Inasmuch  as  the  exact  date  of  the 
disbursements  for  City's  expenses  for  superintendence  on  which 
interest  has  been  computed  is  not  known,  it  has  been  assumed 
that  the  expenditures  for  six  months,  as  July  1st  to  December 
31st  inclusive,  were  made  at  the  middle  day  of  the  period,  that 
is,  September  30th,  and  interest  has  been  computed  from  such 
date. 

A  summary  of  all  interest  on  moneys  provided  by  the  City 
follows : 

39 


.2 


^  -5  -2 

rt     «     *   _ 

::  §1  s 

I  °  a  fl 
O       2  ° 


-   a  - 


"I 

S  2 
o   2 


hJ    =5 


e8    O 


QO 

?2 

00 

CO 

CO 

t^ 

00 

t^  iC  t^ 

03 

o 

_^  00  -^  IC 

00 

+> 

S  O  CO  ■* 

■* 

?^ 

C  kC  (N  (N 

o 

«  iCi  O  lO 

» 

a  0  CO 

CO 

C! 

•S   CO   Tj< 

00 

00    05    .-(    t^    t^ 

CO  "-I  t^  ^  CO 

05     Tt<     CO     i-l 


g 

00 

CO 
00 

"2  n 

CO 

g 

00 
CD 

73     Qj 


«  o 


«  2 
«3  .9 


15     ca     03    g 

P^  OS  -<J  W 


o 


'  al 

I  "S  3 

M       «       O 

o 


40 


I  a| 

ID      Q       3 

W  O  M 
-2  ^  « 
«^  ■£    fl 

-"it 

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u 
o 


02  ^     g 
«    o    ^1 

O  fe  pq 


T  ,  When  there  are  expenditures  of  an  executive 

and  administrative  nature  it  is  impossible  to  ai- 
locate  them  to  specific  construction  work.     Such 
^*  expenditures  made  by  the  New  York  Municipal 

Eailway  Corporation  prior  to  the  date  of  the  contract  have  been 
distributed  among  the  several  lines  affected  in  each  particular 
case,  on  the  basis  of  relative  estimated  costs.  The  percentages  of 
these  relative  costs  are  given  in  the  tabulation  immediately  fol- 
lowing which  represents  the  understanding  with  respect  thereto 
between  representatives  of  New  York  Municipal  Eailway  Cor- 
poration and  myself. 


41 


C    ® 

o 
8  ^ 


II 

o 


1  ^ 

i  .2 

•5  a 

a  o 


o   3 


o  g  ij 

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"^  a  "11 

o  "^  d 

•:i  a  d 

ago 

aj  o  M 

2  (H  a 


a:5 


^  S  0 

s  t^ 

.ti  a  fl 
«,  =•  o 

2    M^ 

**  2  J 
o  d  o 
-►a       ^ 

s  s  ° 

'^  ft  •" 
«  fe  2 

-I  T 


g- to 

•^  a  * 

a    03    m 

a  t^  a 

<  t  % 

2  & 


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«52 


o 

L 

pq  o  ;2; 


"S 

'^   ;:;    rt  <N    N    (N      1 

P4 


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d  o  o  lo  lo 
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j=i  «  2  2 
O  Z  pq  p^ 

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pq  W  Si  Si  ^ 

d  d  <J  <1  « 
o  o  o  o  S 
j:3  ^  -g  -P  pq 

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pq  pq  )§  ^  cc 


d 

d'^ 
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>>    0?  p, 

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«  §  H 


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1-^  t-s 


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H  d  d 

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r  a>  OD 

43  o  o 


•*3   d 

^  s  a 

d  -^  a 

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2   o   a* 
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X    o    o 

•^  ■»»  ^ 


pi 

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'^  2  .3 

d  a  M 

03  d  c3 

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^  Q  -5 

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.  o 

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a)    a>  a> 

^    d  I 

d  ^ 

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2^  « 


a  <x> 

^  I.  M 

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s  p^  i  M 

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I   .t:  -  d 

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42 


This  understanding  is  subject  to  modification  by  me  at  any  time 
that  the  facts  indicate  it  should  be  modified.  It  covers  all  of  the 
work  provided  to  be  done  by  the  New  York  Municipal  Railway 
Corporation  under  Contract  No,  4  and  the  related  certificates,  in- 
cluding their  contribution  to  the  City's  Railroads. 

The  amounts  appearing  in  this  determination  as  Lessee's  con- 
tribution to  the  Cost  of  Construction  and  of  Cost  of  Equipment  are 
all  of  them  the  result  of  the  application  of  the  above  mentioned 
percentage  distribution. 

All  of  the  expenditures  to  cost  of  construction 
Lessee's  items  (5)  Lessee's  expense  of  superintendence,  (6) 

expense  for  Taxes;  and  to  cost  of  equipment  items  (4) 
superintend-  Superintendence,  etc.,  (5)  Taxes,  are  repre- 
ence,  etc.  sented  by  a  bill  for  "  expenditures  between  Feb- 

ruary,  1911,  and  March  19,  1913,  in  and  about 
rapid  transit  matters  culminating  in  the  con- 
tracts dated  March  19,  1913,  between  the  City  of  New  York, 
by  the  Public  Service  Commission  for  the  First  District  and 
the  New  York  Municipal  Railway  Corporation — said  expenditures 
being  represented  by  vouchers  submitted  for  inspection  and  exam- 
ination and  covering  preliminary  engineering,  legal  and  adminis- 
trative disbursements,  organization  of  the  New  York  Municipal 
Railway  Corporation,  printing,  advertising,  engraving,  certification 
of  securities.,  etc.,  etc.,  but  not  including  interest  on  moneys  pro- 
vided" for  the  amount  of  $217,114.00,  which  gives  the  following 
details : 


48 


sss 


ft  a 

f-l    o 


sus 

§8S§§§ 

550,000 

7,512 

10,000 

lO    CO    CsT  lO    r-T  »-i 

"*  (N  O  i-H 
t^  >-i  O  03 
(D   <0   *0   CO 


O   O   O    O 
O   O   O   00 

»o  <o  o  o 


^  a 

.     O  03 

1    CO  m 

:-:3  o 


o 


(U    o    m 


•3  -^  .5 


9  «  .^ 

03  O    o 

:  ^  03   o 

H  WO 


d 

o3 
a> 

..So 

iw" 

0)     »-i     ^ 

ft  <»    _; 
M-^    2 


o   >" 
^  "^ 

ft   o3 

to 


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(^  o 


03    fl 

§  m 

03     . 

::^ 

o  .« 
(»    o 

.2   >. 

03     03 


Q  o 


ft   •  a 

C3       .     <0 

&s  £ 

(3    2    OS 
M    2   -^ 


£0 


^  ^ 


•r   o 
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U        U      .^H 


O    C    « 

is 


_-       IH       -3 

5  S  o 

is  a  § 

bC    UD    03 

•c  -g  I 

(1.  pu.  2 


44 


The  full  amount  of  this  bill  was  distributed  in  accordance  with 
the  understanding  after  having  been  investigated  by  the  Commis- 
sion's Bureau  of  Statistics.  Of  these  preliminary  expenses  the 
$1,000  incorporation  tax  is  entered  under  Contract  and  Certificate 
item  "Taxes'';  $449.61  Eight  of  Way  is  entered  under  "  Eeal 
Estate/'  and  all  other  items  are  entered  under  the  administrative 
expenses  item  "  Superintendence,  etc.,"  of  Lessee,  in  accordance 
with  the  definition  of  same. 


45 


All  of  the  expenditures  to  Lessee's  contribution  to 
cost  of  construction  item  (7)   Interest,  and  to  cost  of 
equipment  item  (6)  Interest,  in  this  determination  are  represented 
by  a  bill  presented  by  the  New  York  Municipal  Railway  Corpora- 
tion as  follows : 

''  85  Clinton  St.,  Brooklyn,  N.  Y., 

March  19,  1913. 

New  York  Municipal  Railway  Corporation, 

To  BROOKLYN  RAPID  TRANSIT  COMPANY,  Dr. 

Comptroller's  Bill  re.  . 

Month  Mar.,  1913. 

6%    interest   paid   on    $40,000,000.00 

par  value  6  year  5%  notes  sold  for 

your  account  pursuant  to  agreement 

of    October    1,    1912,    to    equal  6% 

per  annum  basis $2,400,000.00 

Discount   409,200.00 

Net  Interest  Payment $1,990,800 .  00 

Interest   paid    on    $40,000,000.00    par 

value  notes — 
October  1,  1912,  to  December  31,  1912.      500,000.00 

Less  3%  on  balances 287,380.00      212,619.20 

Interest  accrued  on  $40,000,000.00  par 

value  notes — 
January  1,  1913,  to  March  19,  1913.  .      433,333.33 

Less  3%  on  balances 241,253.73      192,079.60 


Interest  on  amount  ($212,619.20)  ad- 
vanced December  31,  1913,  to  pay 
January  1,  1913,  Interest  on  notes 
to  March  19,  1913 2,799.49 

$2,398,298.29 


46 


This  bill  was  before  the  Commission  and  was  acted  on  by  them 
under  date  of  June  30,  1913,  in  the  following  resolution: 

''Resolved,  That  the  said  item  of  $2,398,298.29,  being 
the  amount  incurred  by  Brooklyn  Eapid  Transit  Company 
in  behalf  of  New  York  Municipal  Eailway  Corporation  as 
set  forth  in  the  above  bill,  be  and  it  hereby  is  deemed  to  be 
interest  actually  and  necessarily  paid  or  accrued  on  moneys 
paid  by  New  York  Municipal  Eailway  Corporation  or  on 
its  behalf  from  time  to  time  prior  to  March  19,  1913,  within 
the  term  '^  interest,'  as  the  same  is  defined  in  subdivision  7 
of  paragraph  14  and  subdivision  6  of  paragraph  15  of  con- 
tract between  the  City  of  New  York,  by  the  Public  Service 
Commission  for  the  First  District,  with  New  York  Munic- 
ipal Eailway  Corporation,  upon  the  express  stipulation  and 
condition  that  there  shall  be  deducted  from  the  cost  of  con- 
struction and  from  the  cost  of  equipment  an  amount  equal 
to  one  per  cent.  (1%)  per  annum,  payable  semi-annually 
upon  the  cost  of  such  construction  and  equipment,  computed 
from  the  date  when  said  construction  or  equipment  is  placed 
in  operation  to  July  1,  1918.'' 

The  amount  of  this  bill  has  been  distributed  in  accordance  with 
the  said  understanding,  except  as  to  an  adjustment  made  among 
the  Lessee's  own  lines,  pursuant  to  a  stipulation  between  the  Lessee 
and  the  Commission,  as  fully  described  in  the  determination  of 
Cost  of  "  Eeconstruction  of  Existing  Eailroads." 


47 


UNIFORM  SYSTEM  OF  ACCOUNTS 

The  details  of  the  Costs  hereinbefore  set  forth  should  be  clas- 
sified in  accordance  with  the  Uniform  System  of  Accounts  pre- 
scribed for  street  and  electric  railways  by  the  Public  Service  Com- 
mission in  its  order  of  December  8,  1908. 

In  the  following  classification  "Miscellaneous  construction  ex- 
penditures ''  includes  debt  expenses,  because  under  the  provisions  of 
the  Company^s  first  mortgage,  all  bonds  will  be  amortized  through 
the  operation  of  the  sinking  fund. 

For  the  Railroad. 

The  Cost  of  Construction  is  distributed  as  follows: 

Lessee's 
City's  Share.  Contribution. 
Intangible  Street  Railway  Capital: 

Organization    $398.45 

Other    Intangible    Street    Railway 

Capital    29,377.84 

Land: 

Right  of  Way $2,607,748.59  

Road  and  Electric  Line: 

Tunnels 25,352,089.24        54,261.63 

Undistributed  Construction  Expenditures : 

Engineering  and  Superintendence.   1,920,437.46        16,544.77 
Law  expenditures  during  construc- 
tion          106,639.47  — 

Interest  during  construction. 3,291,182.86      599,574.57 

Miscellaneous  construction  expendi- 
tures          199,224.32  7,845.04 

Totals    $33,477,321.94  $708,002.30 

Total  Cost  of  Construction $34,185,324.24 

The  Cost  of  Equipment  for  Initial  Operation : 
Intangible  Street  Railway  -Capital: 

Organization $478.14 

Other  Intangible  Street  Railway  Capital 35,253 .40 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 19,853.73 

Interest  during  construction 719,489 .50 

Miscellaneous  construction  expenditures 9,414 .  05 

Total  Cost  of  Equipment $784,488.82 

Total  Cost  of  Construction  and  Cost  of  Equipment. $34,969,813. 06 

48 


These  costs  under  the  Uniform  System  of  Accounts  are  for 
each  line  of  the  Eailroads,  as  follows : 

BROADWAY-FOUETH  AVENUE  LINE 

Lessee^s 
''  Cost  of  Construction  '' :  City's  Share.  Contribution. 

Intangible  Street  Railway  Capital: 

Organization    $318 .  76 

Other    Intangible    Street    Eailway 

Capital    23,502.27 

Land: 

Eight  of  Way $2,607,748.59         

Road  and  Electric  Line: 

Tunnels    25,352,089.24        54,261.63 

Undistributed    Construction    Expendi- 
tures : 

Engineering  and  Superintendence.   1,884,811.68        13,235.82 

Law  expenditures  during  construc- 
tion            99,263 .  70         

Interest  during  construction 3,286,756.62      479,659.66 

Miscellaneous    construction    expen- 
ditures          179,942.63  6,276.03 

Totals    $33,410,612.46    $577,254.17 

Total  Cost  of  Construction $33,987,866?  63 

"  Cost  of  Equipment  for  Initial  Operation  ^' : 
Intangible  Street  Railway  Capital: 

Organization    $358 .  61 

Other    Intangible    Street    Eailway 

Capital — 26,440.05 

Undistributed    Construction    Expendi- 
tures: 

Engineering  and  Superintendence.         14,890.30 

Interest  during  construction 539/617.12 

Miscellaneous    construction    expen- 
ditures             7,060.53 

Total  Cost  of  Equipment $588,366.61 

Total  Cost  of  Construction  and  Cost  of  Equipment. $34,576,233. 24 


48 


CULVER  LINE 

"  Cost  of  Construction  " : 

Lessee's 
City's  Share.  Contribution. 
Intangible  Street  Railway  Capital: 

Organization    $19.92 

Other    Intangible    Street    Railway 

Capital    1,468 .  89 

Undistributed    Construction    Expendi- 
tures: 

Engineering  and  Superintendence.  $6,262.50             827.24 

Law  expenditures  during  construc- 
tion      1,125.17  

Interest  during  construction 419 .  37  29,978 .  73 

Miscellaneous  construction  expen- 
ditures      4,137.66             392.25 

Totals    $11,944.70      $32,687.03 

Total  Cost  of  Construction $44,631.73 


"  Cost  of  Equipment  for  Initial  Operation  " : 

Intangible  Street  Raihuay  Capital: 

Organization    $71 .  72 

Other  Intangible  Street  Railway  Capital 5,288.01 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 2,978.06 

Interest  during  construction 107,923.43 

Miscellaneous  construction  expenditures 1,412.11 

Total  Cost  of  Equipment $117,673 .  33 

Total  Cost  of  Construction  and  Cost  of  Equipment.  .  $162,305.06 


50 


14TH  STREET-EASTEEN  LINE 

"  Cost  of  Construction  " : 
|.  Lessee's 

I  City's  Share.  Contribution. 

Intangible  Street  Railway  Capital: 

t         Organization '      $59 .  77 

t        Other    Intangible    Street    Railway  ' 
Capital    4,406 .  68 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence.      $24,399.36  2,481. 71~ 

Law  expenditures  during  construc- 
tion      4,243 .90         

Interest  during  construction 3,671.76        89,936.18 

Miscellaneous  construction  expen- 
ditures             11,553.12  1,176.76 

Totals    $43,868 .  14      $98,061 .  10 

Total  Cost  of  Construction >  $141,929 .  24 


Cost  of  Equipment  for  Initial  Operation 


^y . 


Intangible  Street  Railway  Capital: 

Organization    $47.81 

Other  Intangible  Street  Railway  Capital 3^525.34 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 1,985 .37 

Interest  during  construction 71,948.95 

Miscellaneous  construction  expenditures 941 .  41 

Total  Cost  of  Equipment $78,448.88 

Total  Cost  of  Construction  and  Cost  of  Equipment.  .  $220,378.12 


51 


CITY^S   SUPERINTENDENCE   ON   CERTIFICATE   LINES 

AND   ON  RECONSTRUCTION  OF  EXISTING 

RAILROADS 

"  Cost  of  Construction  " : 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence $4^963 .92 

Law  expenditures  during  construction 2,006.70 

Interest  during  construction 335 .  11 

Miscellaneous  construction  expenditures 3,590.91 

Total  Cost  of  Construction .      $10,896.64 

Pursuant  to  Article  II,  Subdivision  14,  Item  (4),  City's  ex- 
pense for  superintendence  "  in  and  about  the  plant  and  property 
constructed  and  provided  under  the  certificates  for  extensions  and 
additional  tracks  hereinbefore  referred  to ''  is  included  in  "  Cost  of 
Construction." 

The  City's  superintendence  on  Reconstruction  of  Existing  Rail- 
roads for  Initial  Operation  has  also  been  included. 

Dated  New  York, 

November  24,  1913. 

Alfred  Craven, 

Chief  Engineer  of  the  Public  Service  Commission 

for  the  First  District. 


52 


In  the  Matter 


OF  THE 


Determination  of  the  Chief  Engineer 
of  the  Public  Service  Commission  for 
the  First  District  under  the  contract, 
dated  March  19,  1913,  between  The 
City  of  New  York,  acting  by  the  Pub- 
lic Service  Commission  for  the  First  | 
District,  and  New  York  Municipal 
Eailway  Corporation,  of  the  cost  of 
Reconstruction  of  Existing  Railroads, 
paid  or  accrued  prior  to  March  19, 
1913. 


Prior  Determination 

"Reconstruction  of 

Existing  Railroads,^^ 

November  24,  1913. 


To  the 

Public  Service  Commission  for  the  First  District  and 
New  York  Municipal  Railway  Corporation: 

Pursuant  to  the  provisions  of  the  contract  dated  March  19, 
1913,  between  the  City  of  New  York,  acting  by  the  Public  Service 
Commission  for  the  First  District,  and  the  ISTew  York  Municipal 
Eailway  Corporation,  known  as  Contract  No.  4,  and  in  accord- 
ance with  the  terms  of  Article  XIII,  I  hereby  render  my  determi- 
nation of  the  Cost  of  Reconstruction  of  Existing  Railroads  for 
Initial  Operation  for  the  period  prior  to  March  19,  1913. 

Said  Article  XIII  requires  that  "the  Cost  of  the  Reconstruc- 
tion of  Existing  Eailroads  for  Initial  Operation  shall  be  deter- 
mined by  the  Engineer  in  the  same  manner  as  the  Cost  of  Con- 
struction or  the  Cost  of  Equipment  of  the  Railroad  and  upon 
the  basis  of  the  definitions  of  Construction,  Equipment,  Addi- 
tions, Cost  of  Construction  and  Cost  of  Equipment  *  *  */' 
Therefore  the  Cost  of  the  Reconstruction  of  Existing  Railroads 
for  Initial  Operation  would  seem  to  include  as  to  Construction 
thereof : 

(1)  Labor  and  materials 

(2)  Real  estate $449.61 

(3)  Debt  discount  and  expense • 

(4)  City's    expense    for    superintend- 

ence, etc * 

(5)  Lessee's  expense  for  superintend- 

ence, etc 72,786.73 

(6)  Taxes 337.50 

(7)  Interest "    809,425.67 

Total $882,999.51 

and  as  to  Equipment  thereof: 

( 1 )  Labor  and  materials 

(2)  Real  estate 

(3)  Debt  discount  and  expense 

(4)  Superintendence,  etc $24,262.24 

(5)  Taxes 112.50 

(6)  Interest 269,808.55 

Total $294,183.29 

Total  Cost  of  Construction  and  Cost  of  Equipment.  .$1,177,182.80 

*  City's  Expense  for  Superintendence,  etc.,  has  been  included  in  Cost 
of  Construction  of  the  Railroad. 

3 


Each  of  these  parts  of  the  Cost  of  Construction  and  of  Equip- 
ment of  the  Reconstruction  of  Existing  Eailroads  for  Initial  Opera- 
tion is  taken  up  hereafter  in  its  order.  They  are  shown  as  applied 
to  the  several  portions,  or  lines,  of  the  Existing  Eailroads,  and 
represent  actual  expenditures  chargeable  to  the  respective  lines.  It 
is  necessary  to  keep  the  costs  separate  as  to  parts  of  the  Existing 
Eailroads  in  order  to  provide  a  basis  for  computing  deductions  from 
revenue  in  the  case  of  temporary  operation  (Article  XLIX,  Sub- 
division 7). 

The  records  of  costs,  from  which  this  determination  is  made, 
are  kept  in  such  detail  that  the  cost  of  any  principal  part  of  the 
Existing  Eailroads  may  be  identified  so  that  in  case  of  its  retire- 
ment or  withdrawal  from  service,  the  said  cost  may  be  withdrawn 
from  the  appropriate  depreciation  fund  as  provided  under  Article 
XLIX,  Subdivision  5.  For  this  determination  the  only  charges  are 
of  an  executive  and  administrative  nature.  The  Uniform  System 
of  Accounts  as  prescribed  by  the  Public  Service  Commission  is  fol- 
lowed for  this  purpose. 

When  there  are  expenditures  of  an  executive  and  administra- 
tive nature  it  is  impossible  to  allocate  them  to  specific  construction. 
Such  expenditures  may  properly  be  distributed  among  the  several 
lines  affected  in  each  particular  case  on  the  basis  of  relative  esti- 
mated cost.  An  understanding  with  respect  thereto  between  rep- 
resentatives of  the  Commission,  New  York  Municipal  Eailway  Cor- 
poration and  myself,  is  shown  in  ^^  A  Schedule  of  Agreed  Divi- 
sion of  General  Construction  and  Equipment  Expenses,"  set  forth 
in  my  determination  under  this  date  of  Cost  of  Construction  and 
Cost  of  Equipment  of  the  Eailroad  under  Contract  4.  This  under- 
standing covers  all  of  the  work  done  by  New  York  Municipal  Eail- 
way Corporation  under  Contract  4  and  the  related  Certificates. 

The  expenditures  on  account  of  New  York  Municipal  Eailway 
Corporation  prior  to  March  19,  1913,  were  of  the  kind  covered  by 
the  schedule  just  referred  to  and  in  particular  were  made  in  ac- 
quiring moneys  in  anticipation  of  the  signing  of  the  Contract  and 
the  granting  of  the  Certificates  and  for  organization  and  prelim- 
inary legal  and  engineering  expenses.  Except  as  to  that  portion 
chargeable  to  "  Cost  of  Construction  "  and  "  Cost  of  Equipment "  of 
the  Eailroad,  all  of  the  said  expenditures  have  been  applied  to  Eecon- 
struction  of  Existing  Eailroads,  for  the  reason  that  it  was  requested 
by  New  York  Municipal  Eailway  Corporation,  and  deemed  proper 
by  the  Commission,  that  these  preliminary  expenses  be  applied  to 


Reconstruction  of  Existing  Eailroads  under  Contract  4  for  this 
"  Prior ''  determination.  This  matter  is  covered  by  a  stipulation  be- 
tween New  York  Municipal  Railway  Corporation  and  the  Commis- 
sion, dated  November  18,  1913,  in  which  the  principle  of  the  sched- 
ule above  mentioned  is  confirmed  and  "  In  particular  the  Railway 
Corporation  agrees  that  the  proportionate  part  of  such  items  that 
would  properly  be  allocable  to  additional  tracks  and  extensions  (if 
such  consents  had  been  obtained  therefor)  may  be  allocated  tem- 
porarily to  Reconstruction  of  Existing  Railroads  for  Initial  Opera- 
tion, and  that  when  and  as  the  necessary  constitutional  consents  are 
obtained  for  any  additional  tracks  or  extensions  the  Chief  Engineer 
may  transfer  from  Reconstruction  of  Existing  Railroads  for  Initial 
Operation  to  the  additional  tracks  or  extensions  for  which  such  con- 
sents shall  have  been  obtained  the  amounts  which  otherwise  would 
have  been  allocated  thereto  in  the  first  instance/' 

A  complete  copy  of  the  above  mentioned  stipulation  is  hereto 
annexed  as  an  appendix. 

COST    OF    CONSTRUCTION. 

Real  Estate.  '^(2)  The  actual  and  necessary  net  cost  in 

money  of  any  real  estate  or  interest  therein 
acquired  or  extinguished  for  Construction,  including  termi- 
nals, storage  yards  and  shops,  together  with  the  actual  and 
necessary  expense  in  connection  with  such  acquisition  or 
extinction,  but  there  shall  not  be  included  in  the  term  '  real 
estate  or  interest  therein'  any  damages  the  City  may  have 
to  pay  for  acquiring  rights  or  easements  for  the  Railroad  in 
streets  under  the  principles  of  the  decision  in  Matter  of 
Board  of  Rapid  Transit  Railroad  Commissioners  (Jorale- 
mon  Street),  197  N.  Y.,  81.  There  shall  be  included,  how- 
ever, damages  the  City  may  have  to  pay  for  extinguishing 
rights  of  light,  air,  and  access  in  connection  with  the  con- 
struction of  the  elevated  portions  of  the  Railroad. 
The  cost  of 

(2)  Real  estate  for  the  respective  portions  of  the  Reconstruc- 
tion of  Existing  Railroads  is  as  follows : 

(I)  Brighton  Beach    Line,  between 

Church  Av.  and  Malbone  St 

(II)  Brighton  Beach  Line,  between  Nep- 
tune Av.  and  Coney  Is.  Term 

(III)  Sea  Beach  Line 

5 


(IV)   Myrtle  Av.  and  Broadway  Connec- 
tion             

(Y)   Lutheran  Cemetery  Line 

(VI)  Broadway  Line 

(VII)  Fulton  St.  Line 

(VIII)  Myrtle  Av.  Line 

(IX)  Lexington  Av.  Line 

(X)  Fifth  Av.  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 

(XIII)  Terminals,  Yards  and  Shops. .  .  $449.61 


Total  cost  for  real  estate,  pursuant  to 
the  Contract  prior  to  March  19, 
1913    $449.61 

Lessee's  expense  "  (5)   The  actual  and  necessary  net 

for  superin-  cost  in  money  to  the  Lessee  for  super- 

tendence,  etc.  intendence,  insurance,  damages,  admin- 

istration, engineering  and  legal  ex- 
penses in  and  about  Construction  including  in  respect  of 
the  cost  of  construction  for  initial  operation  the  expenses 
above  referred  to  in  this  paragraph  actually  and  neces- 
sarily incurred  or  payable  by  the  Lessee  in  and  about  Con- 
struction prior  to  the  date  of  this  contract  and  in  addition 
the  actual  and  necessary  expense  incurred  or  payable  by  the 
Lessee  in  printing,  engraving  and  certifying  securities  for 
Construction  and  the  actual  and  necessary  expense  in 
organizing  the  Lessee.^' 

The  cost  of 

(5)  Lessee's  expense  for  superintendence,  etc.,  for  the  respec- 
tive portions  of  the  Eeconstruction  of  Existing  Eailroads  is  as  fol- 
lows: 

(I)  Brighton   Beach   Line,   between 

Church  Av.  and  Malbone  St $7,278 .  67 

(II)  Brighton  Beach  Line,  between 
Neptune  Av.  and  Coney  Island  Term.      7,278 .  67 

(III)  Sea  Beach  Line 18,196.69 

(IV)  Myrtle  Av.  and  BVay  Connection.      3,639.34 

(V)  Lutheran  Cemetery  Line 3,639.34 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line. 

6 


(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 18,196 .  70 

(XIII)  Terminals,  Yards  and  Shops.  .  .  14,557.32 


Total  cost  for  Lessee's  expense  for 
superintendence,  etc.,  pursuant  to. 
the  Contract,  prior  to  March  19, 
1913    $72,786.73 

Taxes.  "(6)   Taxes,    assessments   or   other   govern- 

mental charges  (including  mortgage  recording 
tax)  of  every  description  against  the  Lessee  actually  and 
necessarily  paid  or  accrued  in  and  about  Construction  pend- 
ing the  beginning  of  operation  of  the  part  of  the  Eailroad 
as  to  which  such  taxes,  assessments  or  other  governmental 
charges  were  paid  or  accrued.  During  operation  such  assess- 
ments for  benefits  as  are  not  properly  chargeable  against 
revenue  shall  be  charged  to  cost  of  construction.''\ 

The  cost  of 

(6)   Taxes  for  the  respective  portions  of  the  Eeconstruction  of 
Existing  Eailroads  is  as  follows : 

(I)  Brighton    Beach    Line,    between 

Church  Av.  and  Malbone  St $33 .  75 

(II)  Brighton   Beach   Line,    between 
Neptune    Av.    and    Coney    Island 

Term 33.75 

(III)  Sea  Beach  Line 84.37 

(IV)  Myrtle  Av.  and  B'way  Connec- 
tion     16.87 

(V)  Lutheran  Cemetery  Line 16.88 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 84.38 

(XIII)  Terminals,  Yards  and  Shops.  67.50 


Total  cost  for  Taxes  pursuant  to 

the    Contract,   prior   to    March  ^ 

19,  1913   $337.50 

7 


Interest.  '^7)   Interest  actually  and  necessarily  paid 

or  accrued  on  moneys  provided  by  the  City  or 
by  the  Lessee  or  on  its  behalf  from  time  to  time  for  the 
items  of  this  definition  from  the  respective  times  of  pro- 
viding said  moneys  (but  not  including  interest  on  any 
moneys  provided  by  the  Lessea  or  on  its  behalf  prior  to 
October  1,  1912)  to  the  beginning  of  operation  of  the  part 
of  the  Eailroad  for  which  such  moneys  were  provided,  less 
any  interest  received  by  the  City  or  by  the  Lessee  or  on 
behalf  of  the  Lessee  on  such  moneys." 

The  cost  of 

(7)   Interest  for  the  respective  portions  of  the  Eeconstruction 
of  Existing  Railroads  is  as  follows : 

(I)  Brighton    Beach    Line,    between 

Church  Av.  and  Malbone  St $80,942.57 

(II)  Brighton   Beach   Line,   between 
Neptune    Av.    and    Coney    Island 

Term 80,942.57 

(III)  Sea  Beach  Line 202,356.41 

(IV)  Myrtle  Av.  and  B^vay  Connec- 
tion    40,471.28 

(V)  Lutheran  Cemetery  Line 40,471.28 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line. 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 202,356.42 

(XIII)  Terminals,  Yards  and  Shops.       161,885.14 


Total  cost  for  Interest  pursuant 
to  the  Contract,  prior  to  March 
19,  1913  $809,425.67 


COST  OF  EQUIPMENT 

Superintend-  "(4)   The  actual  and  necessary  net  cost 

ence,  etc.  in  money  to  the  Lessee  for   superintend- 

ence, insurance,  damages,  administration, 
engineering  and  legal  expenses  in  and  about  the  provision  of 
the  Equipment,  including  in  respect  of  the  cost  of  equip- 
ment for  initial  operation  the  expenses  above  referred  to  in 
this  paragraph  actually  and  necessarily  incurred  or  payable 
by  the  Lessee  in  and  about  Equipment  prior  to  the  date  of 
this  contract,  and  in  addition  the  actual  and  necessary  ex- 
pense incurred  or  payable  by  the  Lessee  in  printing,  engrav- 
ing and  certifying  securities  for  Equipment  and  the  actual 
and  necessary  expense  in  organizing  the  Lessee/' 

The  cost  of 

(4)  Lessee's  expense  for  superintendence,  etc.,  for  the  respect- 
ive portions  of  the  Eeconstruction  of  Existing  Eailroads  is  as 
follows : 

(I)  Brighton    Beach    Line,    between 

Church  Av.  and  Malbone  St $1,213.12 

(II)  Brighton    Beach    Line,    between 
Neptune    Av.    and    Coney    Island 

terminal    3,639.32 

(III)  Sea  Beach  Line 3,639.32 

(IV)  Myrtle  Av,  and  B'way  Connec- 
tion      

(V)  Lutheran  Cemetery  Line 1,213.12 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line . 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line ,. 

(XI)  Canarsie  Line   

(XII)  Coney  Island  Terminal 2,426 . 22 

CXIII)-  Terminals,  Yards  and  Shops.  2,426.23 

(XV)    Car  Equipment 9,704.91 


Total  cost  for  Lessee's  expense  for 
Superintendence,  etc.,  pursuant 
to  the  Contract,  prior  to  March 
19,  1913   $24,262.24 


Taxes.  "  (5)   Taxes,  assessments  or  other  governmental 

charges  (including  mortgage  recording  tax)  of 
every  description  against  the  Lessee  actually  and  necessarily 
paid  or  accrued  in  and  about  the  provision  of  the  Equipment 
pending  the  time  when  the  portions  of  the  Equipment  as  to 
which  such  taxes,  assessments  or  other  governmental  charges 
were  paid  or  accrued  are  placed  in  operation.  During  opera- 
tion such  assessments  for  benefits  as  are  not  properly  charge- 
able against  revenue  shall  be  charged  to  cost  of  equipment/' 

The  cost  of 

(5)   Taxes  for  the  respective  portions  of  the  Eeconstruction  of 
Existing  Railroads,  is  as  follows : 

(I)  Brighton    Beach    Line,    between 

Church  Av.  and  Malbone  St .  . $5 .  62 

(II)  Brighton   BeaCh   Line,    between 
Keptune    Av.    and    Coney    Island 

term   ".f. .  16.87 

(III)  Sea  Beach  Line 16.88 

(IV)  Myrtle  Av.  and  B'way  Connec- 
tion  

(V)  Lutheran  Cemetery  Line 5.63 

(VI)  Broadway  Line 

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 11.25 

(XIII)  Terminals,  Yards  and  Shops.  11.25 

(XIV)  Car  Equipment ^  45 . 00 

Total  cost  for  Taxes  pursuant  to 
the  Contract,  prior  to  March  19, 
1913   $112.50 


Interest.  "(6)    Interest  actually  and  necessarily  paid 

or  accrued  on  moneys  provided  by  the  Lessee 
or  on  its  behalf  from  time  to  time  for  the  items  of  this  defini- 
tion from  the  respective  times  of  providing  said  moneys  (but 
not  including  interest  on  any  moneys  provided  by  the  Lessee 
or  on  its  behalf  prior  to  October  1,  1912)  to  the  beginning 

10 


of  operation  of  the  part  of  the  Equipment  for  which  such 
moneys  were  provided,  less  any  interest  received  by  the  Les- 
see or  on  its  behalf  on  such  moneys." 

The  cost  of 

(6)   Interest  for  the  respective  portions  of  the  Eeconstruction 
of  existing  Eailroads  is  as  follows : 

(I)  Brighton    Beach    Line,    between 

Church  Av.  and  Malbone  St $13,490.43 

(II)  Brighton    Beach    Line,    between 
Neptune    Av.    and    Coney    Island 

term 40,471.28 

(III)  Sea  Beach  Line 40,471.28 

(IV)  Myrtle  Av.  and  BVay  Connec- 
tion     

(V)  Lutheran  Cemetery  Line 13,490.43 

(VI)  Broadway  Line /.  .  

(VII)  Fulton  Street  Line 

(VIII)  Myrtle  Avenue  Line 

(IX)  Lexington  Avenue  Line 

(X)  Fifth  Avenue  Line 

(XI)  Canarsie  Line 

(XII)  Coney  Island  Terminal 26,980.85 

(XIII)  Terminals,  Yards  and  Shops.        26,980.85 

(XIV)  Car  Equipment 107,923.43 

Total  cost  for  Interest  pursuant  to  \ 

the  Contract,  prior  to  March  19, 
1913 $269,808.55 

APPENDIX   EXPLAXATORY   OF   THE  ABOVE 
DETERMIXATIOX 

Lessee's  expense  for  In  the  determination  of  Cost  of  Con- 

superintendence,  struction  and  Cost  of  Equipment  of  the 

Railroad  for  Initial  Operation  made  un- 
Taxes.  der  this  same  date,  the  character  and  di- 

vision of  the  expenditures  by  the  Lessee 
Interest.  prior  to  March  19,   1913,  are  fully  ex- 

plained and  reference  is  hereby  made 
to  them  to  identify  the  entries  herein. 
The  stipulation  hereinbefore  mentioned, 
affecting  the  disposition  of  these  expendi- 
tures in  the  "  prior "  determinatiou,  is 
as  follows: 
11 


Stipulation  made  this  IStli  day  of  November,  1913,  by  and  between 
the  Public  Service  Commission  for  the  First  District,  hereinafter  re- 
ferred to  as  the  "  Commission,"  and  New  York  Municipal  Railway  Cor- 
poration, hereinafter  referred  to  as  the  "  Railway  Corporation." 

Whereas  acting  under  the  provisions  of  the 

(1)  Contract  dated  March  19,  1913,  between  the  City  of  New 
York,  acting  by  the  Commission,  and  the  Railway  Corporation, 
known  as  Contract  No.  4. 

(2)  The  certificate  dated  March  19,  1913,  granted  by  the 
Commission  to  the  Railway  Corporation  for  additional  tracks, 
and 

(3)  The  certificate  dated  March  19,  1913,  granted  by  the 
Commission  to  the  Railway  Corporation  for  extensions. 

The  Chief  Engineer  of  the  Commission  has  rendered  certain  determina- 
tions bearing  date  the  14th  day  of  October,  1913,  of  the  cost  of  con- 
struction, cost  of  equipment,  actual  cost  of  plant  and  structure  and 
actual  cost  of  equipment  paid  or  accrued  prior  to  March  19,  1913 ;  and 

Whereas,  included  in  such  determinations  are  various  items  of  cost 
not  susceptible  of  specific  allocation  to  the  various  lines  and  subdivi- 
sions referred  to  in  the  contract  and  certificates,  but  which  in  such 
determinations  are  allocated  to  such  lines  and  subdivisions  in  accord- 
ance with  an  empirical  method  of  allocation ;  and 

Whereas,  in  accordance  with  such  method  of  allocation  portions  of 
such  items  have  been  allocated  to  lines  or  subdivisions  for  which  the 
necessary  constitutional  consents  have  not  as  yet  been  obtained ;  and 

Whe?'eas  such  method  of  allocation  was  based  in  part  upon  the 
suggestion  that  under  the  contract  and  certificates  the  Chief  Engineer 
was  required  to  make  in  each  determination  a  definite  and  final  alloca- 
tion of  such  items  despite  the  fact  that  all  allocations  of  such  items 
are  necessarily  subject  to  readjustment  because  of  changing  conditions 
arising  out  of  the  prosecution  of  the  work  under  said  contract  and 
certificates ;  and 

Whereas,  the  Commission  and  the  Railway  Corporation  recognize 
the  right  of  the  Chief  Engineer  under  said  contract  and  certificates  to 
allocate  such  items  in  proper  proportionate  parts  to  various  lines  and 
subdivisions  for  which  the  necessary  constitutional  consents  shall 
have  been  obtained  and  thereafter,  from  time  to  time,  to  reallocate 
such  items  or  portions  thereof  as  may  be  necessary,  so  that  as  soon 
as  practicable  there  shall  be  allocated  to  each  line  and  subdivision 
its  proper  proportionate  part  of  such  items  upon  the  basis  of  the  rela- 
tive cost  applicable  to  such  line  or  subdivision  to  the  cost  applicable 
to  the  other  lines  and  subdivisions  as  contemplated  in  said  contract 
and  certificates;  and 

12 


Whereas,  the  Chief  Engineer  has  expressed  his  willingness  to  with- 
draw such  determinations  upon  the  request  of  the  Commission  and  the 
Railway  Corporation;  and 

Whereas,  the  Commission  and  the  Railway  Corporation  construe 
the  contracts  and  certificates  as  giving  such  right  of  allocation  and 
reallocation  to  the  Chief  Engineer  and  enter  into  this  stipulation  not 
for  the  purpose  of  varying  or  modifying  any  of  the  provisions  of  such 
contract  and  certificates  but  for  the  purpose  of  regulating  matters  of 
detail  thereunder  and  to  avoid  possible  future  misunderstandings. 

Now  Therefore,  the  Commission  and  the  Railway  Corporation 
hereby  stipulate  and  agree  as  follows : 

First:  The  Commission  and  the  Railway  Corporation  hereby  ex- 
pressly recognize  and  confirm  the  right  of  the  Chief  Engineer  under  said 
contract  and  certificates  to  allocate  in  proper  proportionate  parts  to  the 
various  lines  and  subdivisions  for  which  the  necessary  constitutional  con- 
sents shall  have  been  obtained  all  such  items  of  cost  as  are  not  suscep- 
tible of  specific  allocation,  and  thereafter,  from  time  to  time,  to  reallo- 
cate such  items  in  whole  or  in  part  as  may  be  necessary,  so  that  as  soon 
as  practicable  there  shall  be  finally  allocated  to  each  such  line  and 
subdivision  no  more  and  no  less  than  its  proper  proportionate  part  of 
such  items  upon  the  basis  of  the  relative  cost  applicable  to  said  line 
or  subdivision  to  the  cost  applicable  to  the  other  lines  and  subdivisions 
as  contemplated  in  said  contract  and  certificates. 

Second:  In  the  case  of  lines  or  subdivisions  for  which  the  neces- 
sary constitutional  consents  have  not  at  the  time  of  rendering  any 
determination  been  obtained,  the  Chief  Engineer  may  allocate  the  pro- 
portionate part  of  such  items  that  otherwise  would  be  allocable  to  such 
lines  or  subdivisions  to  other  lines  or  subdivisions  for  which  the  neces- 
sary constitutional  consents  have  been  obtained ;  and  thereafter,  when 
and  as  the  necessary  constitutional  consents  are  obtained,  the  Chief 
Engineer  may  transfer  the  amounts  so  allocated  from  the  lines  or 
subdivisions  to  which  they  have  been  allocated  to  the  line  or  subdi- 
vision for  which  such  consents  shall  have  been  obtained,  so  that  each 
line  or  subdivision  will  bear  its  equitable  and  proper  share  of  such 
items.  In  particular  the  Railway  Corporation  agrees  that  the  pro- 
portionate part  of  such  items  that  would  properly  be  allocable  to 
additional  tracks  and  extensions  (if  such  consents  had  been  obtained 
therefor)  may  be  allocated  temporarily  to  Reconstruction  of  Existing 
Railroads  for  Initial  Operation,  and  that  when  and  as  the  necessary  con- 
stitutional consents  are  obtained  for  any  additional  tracks  or  extensions 
the  Chief  Engineer  may  transfer  from  Reconstruction  of  Existing 
Railroads  for  Initial  Operation  to  the  additional  tracks  or  extensions 
for  which  such  consents  shall  have  been  obtained  the  amounts  which 
otherwise  would  have  been  allocated  thereto  in  the  first  instance. 

Third:  The  Chief  Engineer  may  withdraw  the  several  determina- 
tions bearing  date  the  14th  day  of  October,  1913,  such  withdrawal  to 
have  the  same  force  and  effect  as  though  such  determinations  had  not 
been  rendered. 

13 


Fourth:  The  time  of  the  Chief  Engineer  to  render  the  determina- 
tions of  cost  of  construction,  cost  of  equipment,  actual  cost  of  plant 
and  structure  and  actual  cost  of  equipment  paid  or  accrued  prior  to 
March  19,  1913,  is  hereby  extended  to  and  including  the  25th  day  of 
November,  1913. 

Fifth:  This  stipulation  shall  be  without  prejudice  to  any  right 
of  the  Commission  or  of  the  Railway  Corporation  under  said  contract 
or  certificates  to  object  to  any  determination  of  the  Chief  Engineer. 

Sixth:  This  stipulation  shall  not  apply  to  items  of  cost  susceptible 
of  specific  allocation,  the  intention  being  that  the  Chief  Engineer  shall 
allocate  all  such  items  as  are  susceptible  of  specific  allocation  to  the 
particular  lines  or  subdivisions  to  which  they  shall  respectively  belong. 

Seventh:  This  stipulation  shall  continue  in  force  and  effect  until 
the  beginning  of  Initial  Operation  under  said  contract. 

In  Witness  Whereof  the  Commission  has  caused  its  oflicial  seal 
to  be  hereto  aflixed  and  attested  by  its  Secretary  and  this  stipulation 
to  be  signed  by  its  Chairman,  and  the  Railway  Corporation  has  caused 
its  corporate  seal  to  be  hereto  affixed  and  attested  by  its  Secretary 
and  this  stipulation  to  be  signed  by  its  President,  all  the  day  and  year 
first  above  written. 

,  PUBLIC  SERVICE  COMMISSION  FOR  THE  FIRST 

DISTRICT, 

[SEAL  OF  THE  by  Edwabd  E.  McCall, 

COMMISSION]  Chairman. 

Attest : 

Tbavis  H,  Whitney, 

Secretary. 

NEW    YORK    MUNICIPAL    RAILWAY    CORPORA- 
TION, 

[SEAL  OF  THE  RAIL-  by  T.   S.   WiLLIAMS, 

WAY  CORPORATION]  President. 

Attest : 

T.  A.  Bullock, 

Secretary. 


UNIFORM    SYSTEM    OF    ACCOUNTS 

The  details  of  the  Costs  hereinbefore  set  forth  should  be  classi- 
fied in  accordance  with  the  Uniform  System  of  Accounts  pre- 
scribed for  street  and  electric  railways  by  the  Public  Service 
Commission  in  its  order  of  December  8,  1908. 

In  the  following  classification  "  Miscellaneous  construction  ex- 
penditures," includes  debt  expenses,  because  under  the  provisions  of 
the  Company's  first  mortgage,  all  bonds  will  be  amortized  through 
the  operation  of  the  sinking  fund. 

For  the  Eeconstruction  of  Existing  Railroads  for  Initial  Opera- 
tion. 

The  Cost  of  Construction  is  distributed  as  follows: 

Intangible  Street  Railway  Capital: 

Organization $537.91 

Other  Intangible  Street  Railway  Capital    39,660.08 

Land  : 

Right  of  Way ' 449.61 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 22,335.45 

Interest  during  construction 809,425.67 

Miscellaneous  Construction  Expenditures   10,590 .  79 

Total  Cost  of  Construction $882,999.51 

The  Cost  of  Equipment  is  distributed  as  follows: 
Intangible  Street  Railway  Capital: 

Organization $179.30 

Other  Intangible  Street  Railway  Capital    13,220.03 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 7,445 .  14 

Interest  during  construction 269,808.55 

Miscellaneous  Construction  Expenditures     3,530 .  27 

Total  Cost  of  Equipment $294,183.29 

Total  Cost  of  Reconstruction  of  Exist- 
ing  Railroads   for   Initial    Operation 

to  March  19,  1913 $1,177,182.80 

15 


These  costs  under  the  Uniform  System  of  Accounts  are  for 
each  portion  of  the  Existing  Eailroads,  as  follows : 

BEIGHTON  BEACH  LINE,  BETWEEN  CHUECH  AV.  AND 

MALBONE  ST. 

Cost  of  Construction : 

Intangible  Street  Railway  Capital: 

Organization $53.79 

Other  Intangible  Street  Eailway  Capital      3,966.01 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 2,233.54 

Interest  during  construction. 80,942.57 

Miscellaneous  Construction  Expenditures  1,059 .  08 

Total  Cost  of  Construction $88,254.99 


Cost  of  Equipment : 
Intangible  Street  Railway  Capital: 

Organization $8.97 

Other  Intangible  Street  Eailway  Capital         661.00 

Undistributed  Construction  Expenditures : 

Engineering  and  Superintendence 372.26 

Interest  during  construction 13,490.43 

Miscellaneous  Construction  Expenditures  176 .  51 

Total  Cost  of  Equipment $14,709 .  17 

Total   Cost  for   Eeconstruction   of  this 

portion  of  Existing  Eailroads $102,964.16 


16 


BEIGHTO^^    BEACH    LIXE,    BETWEEX    XEPTUNE    AY. 
AXD  CONEY  ISLAND  TERMINAL 

Cost  of  Construction : 

Intangible  Street  Railway  Capital: 

Organization    $53 .  80 

Other  Intangible  Street  Railway  Capital      3,966.01 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 2,233.53 

Interest  during  construction 80,9-12  .57 

Miscellaneous  Construction  Expenditures  1,059 .  08 

Total  Cost  of  Construction $88,254.99 


Cost  of  Equipment: 
Intangible  Street  Railway  Capital: 

Organization $26 .  89 

Other  Intangible  Street  Railway  Capital      1,983.00 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 1,116.76 

Interest  during  construction 40,471.28 

Miscellaneous  Construction  Expenditures  529 .  54 

Total  Cost  of  Equipment $44,127.47 

Total  cost  for  Reconstruction  of  this 

portion  of  Existing  Railroads $132,382.46 


17 


SEA  BEACH  LINE 

Cost  of  Construction : 

Intangible  Street  Railway  Capital: 

Organization   $134 .  48 

Other  Intangible  Street  Eailway  Capital      9,915.01 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 5,583.87 

Interest  during  construction 202,356.41 

Miscellaneous  Construction  Expenditures      2,647 .  70 


Total  Cost  of  Construction $220,637.4 


Cost  of  Equipment: 

Intangible  Street  Eailway  Capital: 

Organization    $26 .  89 

Other  Intangible  Street  Railway  Capital      1,983.00 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 1,116.76 

Interest  during  construction 40,471.28 

Miscellaneous  Construction  Expenditures  529 .  55 

Total  Cost  of  Equipment ...$44,127.48 

Total    cost    for    Eeconstruction    of    this 

portion  of  Existing  Railroads $264,764.95 


IS 


MYETLE  AVENUE  AND  BROADWAY  CONNECTION 

Cost  of  Construction: 
Intangible  Street  Railivay  Capital: 

Organization    $26 .  89 

Other  Intangible  Street  Railway  Capital      1,983.01 

Undistributed  Oonstruction  Expenditures: 

Engineering  and  Superintendence 1,116.77 

Interest  during  construction 40,471.28 

Miscellaneous  Construction  Expenditures  529 .  54 

Total  Cost  of  Construction $44,127.49 


Cost  of  Equipment : 

Note. — There  have  been  no  expenditures 
on  this  account. 

Total  cost  for  Reconstruction  of  this 

portion  of  Existing  Railroads. . .  $44,127.49 


19 


LUTHERAN  CEMETERY  LINE 

Cost  of  Construction: 
Intangible  Street  Railway  Capital: 

Organization    $26 .  89 

Other  Intangible  Street  Railway  Capital      1,983.00 

Undistributed  Construction  Expenditures  : 

Engineering  and  Superintendence 1,116.79 

Interest  during  construction 40,471.28 

Miscellaneous  Construction  Expenditures  529 .  54 

Total  Cost  of  Construction $44,127.50 


"Cost  of  Equipment: 
Intangible  Street  Raihvay  Capital: 

Organization   $8.97 

Other  Intangible  Street  Railway  Capital         661.00 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 372.27 

Interest  during  construction 13,490.43 

Miscellaneous  Construction  Expenditures  176.51 


Total  Cost  of  Equipment $14,709.18 

Total   cost   for   Reconstruction    of   this 

portion  of  Existing  Railroads $58,836.68 


20 


CONEY   ISLAND    TEEMINAL 

Cost  of  Construction : 

Intangible  Street  Railway  Capital: 

Organization $134.48 

Other  Intangible  Street  Eailway  Capital     9,915.03 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 5,583 .  87 

Interest  during  construction 202,356.42 

Miscellaneous  Construction  Expenditures     2,647 .  70 

Total  Cost  of  Construction $220,637.50 


Cost  of  Equipment : 
Intangible  Street  Railway  Capital: 

Organization $17.93 

Other  Intangible  Street  Railway  Capital      1,322 .  01 

Undistributed  Construction  Expenditures : 

Engineering  and  Superintendence 744.50 

Interest  during  construction 26,980.85 

Miscellaneous  Construction  Expenditures        353 .  03 

Total  Cost  of  Equipment $29,418.32 

Total   cost  for   Eeconstruction   of   this 

portion  of  Existing  Railroads $250,055.82 


21 


TERMINALS,  SHOPS  AND  YARDS 

Cost  of  Construction : 

Intangible  Street  Railway  Capital: 

Organization $107 .  58 

Other  Intangible  Street  Railway  Capital      7,932 .01 

Land: 

Right  of  Way 449 .  61 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 4,467.08 

Interest  during  construction 161,885.14 

Miscellaneous  Construction  Expenditures     2,118 .  15 

Total  Cost  of  Construction $176,959.57 


Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization $17.93 

Other  Intangible  Street  Railway  Capital      1,322 .  01 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 744 .  52 

Interest  during  construction 26,980.85 

Miscellaneous  Construction  Expenditures  353 .  02 

Total  Cost  of  Equipment $29,418.33 

Total   cost  for  Reconstruction   of   this 

portion  of  Existing  Railroads $206,377.90 


22 


CAE    EQUIPMENT 

Cost  of  Equipment : 

Intangible  Street  Railway  Capital: 

Organization $71.72 

Other  Intangible  Street  Eailway  Capital      5,288.01 

Undistributed  Construction  Expenditures: 

Engineering  and  Superintendence 2,978.07 

Interest  during  construction 107,923.43 

Miscellaneous  Construction  Expenditures     1,412 .  11 

Total  Cost  of  Equipment $117,673.34 

Total  Cost  for  Reconstruction  of  this 

portion  of  Existing  Railroads $117,673.34 

Dated  New  York, 

November  24,  1913. 

Alfred  Craven, 

Chief  Engineer  of  the  Public  Service  Commission 

for  the  First  District. 


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